Helly Hansen Acquisition}

Canadian Tire Corporation has recently announced the sale of Helly Hansen, a renowned outdoor apparel brand, to a U.S.-based company, Kontoor Brands, for a staggering $900 million USD. This acquisition marks a significant milestone in the history of Helly Hansen, which was previously acquired by Canadian Tire in 2018 for $1.3 billion.

According to reports, Kontoor Brands, the parent company of Lee and Wrangler, has agreed to purchase Helly Hansen in an all-cash deal. This acquisition will enable Kontoor Brands to expand its portfolio of outdoor apparel brands, further strengthening its presence in the global market.

The sale of Helly Hansen is expected to have significant implications for Canadian Tire Corporation, which has been undergoing restructuring efforts in recent years. The company has stated that the sale will enable it to focus on its core business operations and invest in growth initiatives.

As reported by various sources, the acquisition is expected to be completed in the coming months, pending regulatory approvals. This deal marks a significant development in the outdoor apparel industry, and its implications will be closely watched by industry insiders and enthusiasts alike.