Kontoor Brands to acquire Helly Hansen from Canadian Tire Corporation for $900m.

Kontoor Brands, a global lifestyle apparel company, agreed to acquire Helly Hansen, a global outdoor and workwear brand, from Canadian Tire Corporation, a retail company, for $900m. “We are thrilled to welcome the Helly Hansen team into Kontoor Brands and to build a future together that creates significant value for all our stakeholders. Given our global platform and proven track record of operational excellence in owning brands rooted in heritage, quality, authenticity and innovation, Kontoor Brands is uniquely positioned to partner with Helly Hansen management to scale and elevate the business globally. The acquisition of Helly Hansen is the perfect fit for our strategy to evolve and expand our portfolio of brands, accelerate growth, and deliver long-term value for our shareholders. I want to thank the Canadian Tire and Helly Hansen teams for the partnership in this process. I couldn’t be more excited for the future of Kontoor Brands and our stakeholders,” Scott Baxter, Kontoor Brands President, CEO and Chairman.