By means of Tara Deschamps
The Canadian Press
Posted February 19, 2025 10:03 am
Up to date February 19, 2025 4:36 pm
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Canadian Tire says it has signed a virtually $1.3-billion deal to promote Helly Hansen to a U.S. proprietor of a number of clothes manufacturers.
Canadian Tire says the settlement will see the sports wear corporate finish up within the fingers of Kontoor Manufacturers, which owns Wrangler, Lee and Rock & Republic.Canadian Tire, which additionally owns SportChek and Mark’s, framed the sale as some way for it to extend its center of attention on its Canadian retail portfolio and free up worth for the corporate and shareholders alike.
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The Toronto-based store says the care for Kontoor is predicted to near in the second one quarter of this 12 months, however is matter to regulatory approvals and common remaining stipulations, together with a provide settlement.
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The multi-year provide deal will permit Canadian Tire and its manufacturers to proceed to promote Helly Hansen merchandise.Canadian Tire purchased Helly Hansen in 2018 thru a $985-million care for the Ontario Lecturers’ Pension Fund, however the emblem dates again to 1877, when sea captain Helly Juell Hansen enlisted his spouse Margrethe to assist him give you the option to deal with Norwegian climate.
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