This article written in french by Nicholas Pereira was automatically translated using AI
Canadian Tire has acquired the intellectual property of Hudson’s Bay Company for $30 million in a deal finalized on May 15.
With this acquisition, the Canadian retailer gains ownership of banners and various corporate names, logos, brand designs, crests, and trademarks of the now-defunct company.
Greg Hicks, President and CEO of Canadian Tire Corporation, expressed enthusiasm about the acquisition.
“Canadian Tire and Hudson’s Bay Company are among the oldest companies in the country, with a combined Canadian heritage spanning centuries,” he noted in a press release. “Some things are meant to remain Canadian, and we are honored to welcome many of Hudson’s Bay Company’s brands into the Canadian Tire family.”
Canadian Tire also stated that “it is saddening to witness the final days of another major Canadian retailer,” but said it was proud to keep this brand in the country. The company has reportedly “already made offers on a few lease locations.”
The agreement between the two parties is subject to court approval as well as the usual terms and conditions. The transaction is expected to be officially completed later this summer.
It’s worth noting that Canadian Tire already owns several Canadian retail chains, including Mark’s (L’Équipeur), Hockey Experts, Sports Experts, and Atmosphère. (N.P.)
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