Select Language

Canadian Tire acquires Helly Hansen

Retail group Canadian Tire Corporation (CTC) has announced its intention to acquire Norwegian outdoor brand Helly Hansen.

CTC said outdoor is a core part of its strategy and that it knew Helly Hansen well because, through stocking the brand’s products in its stores, it lays claim to have been one of the Norwegian company’s largest customers.

“For more than ten years, Helly Hansen has been an exceptional fit with CTC and this acquisition will strengthen our assortment across all of our banners,” said Stephen Wetmore , CTC chief executive. “With our capabilities and Helly Hansen’s trusted global brand and management team, we see tremendous opportunity in Canada and internationally.”

For his part, Helly Hansen CEO, Paul Stoneham, said: “CTC provides us with the ideal platform to further accelerate our growth trajectory and also strengthen our Canadian presence. This is a great opportunity. As a Canadian, I am particularly proud to say that Canadian Tire is the new home for Helly Hansen.”