Canadian Tire Corp. is stepping in to preserve a piece of Canadian heritage. The retailer announced it will pay $30 million to acquire Hudson’s Bay Company’s intellectual property, including its historic coat of arms, the famous multicoloured stripes, and key brands like Gluckstein, Distinctly Home, and Hudson North.

The deal gives Canadian Tire the rights to sell these brands across its 1,700 stores — including Mark’s, SportChek, and Party City — and repurpose them to fit its retail footprint. It also includes a bid on a handful of Hudson’s Bay store leases, though it’s unclear whether those will continue as Bay stores.

A Strategic & Patriotic Move

• Canadian Tire CEO Greg Hicks called the move “strategic” and “patriotic,” saying, “Some things are just meant to stay Canadian.”

• Hudson’s Bay CEO Liz Rodbell expressed gratitude that the 355-year-old brand will live on with another iconic Canadian company.

Why It Matters:

• Hudson’s Bay, Canada’s oldest company (founded in 1670), filed for creditor protection in March, unable to keep up with bills amid pandemic fallout, downtown retail slumps, and a trade war with the U.S.

• With its 80 Bay stores and 16 Saks locations closing, the company pivoted to preserving its legacy through brand sales rather than retail revival.

• 17 bidders vied for HBC’s assets, but Canadian Tire focused solely on brand acquisition and select leases, not the full retail operation.

What’s Next:

• The sale is expected to close this summer, pending court approval.

• Canadian Tire is expected to integrate the brands into its retail chains — think Bay-striped patio furniture at Canadian Tire or Hudson North apparel at Mark’s.

• HBC’s 39 leases and 4,400+ pieces of historic art and artifacts — including its 1670 royal charter — remain up for auction, with 12 parties already bidding.

Big Picture:

With its deep roots in Canadian history — from the fur trade to holiday windows — Hudson’s Bay is more than just a store. This deal ensures its most recognizable pieces stay part of the Canadian retail landscape, even as its physical stores disappear.