Hudson’s Bay to sell its brands to Canadian Tire in $30M deal

Hudson’s Bay is getting a second life with a new owner — Canadian Tire Corp. Ltd.

Canadian Tire said Thursday that it will pay $30 million for intellectual property belonging to the retailer, which is Canada’s oldest company.

The sale includes the overarching Hudson’s Bay brand, its iconic, multicoloured stripes motif, its coat of arms and other brand trademarks.

The deal allows products under these names to be sold by Canadian Tire, which also owns SportChek, Party City, Mark’s and Pro Hockey Life, at their 1,700 stores.

The exchange includes houseware brands Gluckstein and Distinctly Home, as well as discount brand Zellers and apparel line Hudson North, said a source familiar with the deal, who is not being named because they were unauthorized to speak about it.

For more info, please go to https://globalnews.ca/news/11182412/hudsons-bay-canadian-tire-sale/

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