Canadian Tire to buy Hudson’s Bay intellectual property for $30M
Published: 10:27 16 May 2025 EDT
Canadian Tire Corporation Limited (TSX:CTC.A) said on Thursday it will acquire Hudson’s Bay’s intellectual property for about C$30 million, including the iconic department store’s striped branding and coat of arms, as the 355-year-old retailer prepares to shutter its stores and pay down more than C$1 billion in debt.
The deal includes trademarks such as Hudson’s Bay’s recognizable four-stripe motif, various company names and logos, and is subject to approval by an Ontario court. The transaction is expected to close this summer.
Hudson’s Bay Co. ULC, once a symbol of Canadian retail heritage, entered creditor protection in March and plans to close all 80 of its Bay stores and 16 Saks OFF 5TH locations by next month. It is also liquidating merchandise, monetizing leases, and auctioning off historical assets, including a 1670 charter granting it exclusive trading rights across parts of Canada.
"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," Canadian Tire CEO Greg Hicks said in a statement.
"It's disheartening to witness the final days of another great Canadian retailer, and while the circumstances are unfortunate, we're proud to step in for customers."
Canadian Tire operates more than 1,700 retail locations across Canada.
Hudson’s Bay, though long considered a Canadian institution, has been under US ownership since 2006. Its CEO, Liz Rodbell, expressed optimism about the brand’s future under Canadian Tire.
“We are grateful that the HBC brand has found a home with another heritage retailer that encapsulates the uniquely authentic Canadian experience,” Rodbell said. “I have no doubt they will be strong stewards of the more than 350-year HBC legacy.”
According to court documents, Hudson’s Bay has received 12 bids for 39 of its stores and previously said it had attracted 17 offers for parts of its intellectual property.
The sale of branding rights comes as the company continues to wind down operations amid mounting debts owed to landlords, suppliers and service providers.
