TORONTO — Canadian Tire Corporation Ltd. has acquired the intellectual property of Hudson's Bay, Canada's oldest company, for $30 million. This deal, announced on a Thursday, allows Canadian Tire to utilize the Hudson's Bay brand, its iconic multicoloured stripes motif, coat of arms, and other trademarks in its operations across the 1,700 stores it owns, which include brands like SportChek, Party City, Mark's, and Pro Hockey Life.

The acquisition encompasses key houseware brands such as Gluckstein and Distinctly Home, along with the apparel line Hudson North. This was revealed by a source familiar with the transaction, who chose to remain anonymous due to their lack of authorization to speak publicly on the matter.

Canadian Tire's CEO, Greg Hicks, expressed that observing the decline of Hudson's Bay is "disheartening," but stated that the acquisition is both "strategic" and "patriotic." He remarked, "Some things are just meant to stay Canadian, and we are honoured to welcome many of HBC’s leading brands, including the iconic HBC coat of arms and the Stripes, into our Canadian Tire family." Liz Rodbell, the CEO of Hudson's Bay, echoed his sentiments, stating that she is grateful the iconic brand has found a home with another heritage retailer that embodies the uniquely authentic Canadian experience.

The sale, which is slated to finalize by summer 2025, is still pending court approval. Companies engaged in purchases through creditor protection are not obligated to utilize the acquired brands, but industry experts predict Canadian Tire will leverage the assets gained in the deal. The overlap in market coverage between Canadian Tire and Hudson's Bay makes the integration of brands like Gluckstein and Distinctly Home into its stores seamless. It is likely that Canadian Tire will also make the Bay stripes a prominent feature in its offerings, leveraging the historical significance of the motif that dates back to 1779.

Hudson's Bay filed for creditor protection in March 2025, citing significant financial struggles exacerbated by the lingering impacts of the pandemic, decreased traffic in downtown areas, and ongoing trade tensions with the United States. Unable to secure funding to maintain its remaining 80 stores and 16 Saks locations, Hudson's Bay began liquidating its assets and exploring options to preserve the integrity of its brands.

The retailer has a rich history, having been founded in 1670 as a fur-trading company that had substantial influence over Canada's land, economy, and Indigenous relations. As it evolved, Hudson's Bay became a beloved department store where Canadians shopped for housewares, apparel, and more. The store's festive holiday displays and essential services for wedding and baby registries further solidified its place in Canadian culture.

In the bidding process for Hudson's Bay's assets, Canadian Tire made a focused offer on the intellectual property while also expressing interest in a few lease locations. However, Hicks clarified that acquiring the Bay's entire operations is not a consideration at this time, considering the company's existing commitments and activities. Reports indicated that Canadian Tire's offer was one of 17 received by Hudson's Bay, driven by interest from numerous parties eager to explore the brand's legacy and market potential.

In anticipation of this acquisition, Canadian Tire had just completed a significant sale, offloading its sportswear business Helly Hansen to Kontoor Brands for approximately $1.3 billion. This transaction augmented Canadian Tire’s financial standing, equipping it to pursue a strategic acquisition like Hudson's Bay’s intellectual property.

While the intellectual property has successfully found a new home within Canadian Tire, the leases for Hudson's Bay's prime retail spaces remain up for grabs. Recent court filings revealed that twelve parties have submitted offers for a total of 39 leases, with multiple bidders vying for the same locations. Additionally, Hudson's Bay is also looking to divest around 4,400 pieces of art and artifacts, including the original royal charter from 1670, which will be auctioned by Heffel Gallery.