Canada @lemmy.ca TheMcG @lemmy.ca 1d ago

Hudson’s Bay to sell name, stripes, brands to Canadian Tire for $30 million

www.thestar.com Hudson’s Bay to sell name, stripes, brands to Canadian Tire for $30 million

The deal would allow products to be sold by Canadian Tire, which also owns SportChek and Mark's, but it still needs court approval.

https://archive.is/https://www.thestar.com/business/hudson-s-bay-to-sell-name-stripes-brands-to-canadian-tire-for-30-million/article_f795840b-f5b0-5e32-a722-af171ead18c0.html

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Canadian Tire???????

huh I would've never imagined CT to buy Hudsons Bay

For non-Canadians, my shock comes from the fact that:

Canadian Tire (which is primarily known as the place where you get your tires changed and maybe buy home appliances) bought

Hudsons Bay (which is primarily a retail clothing and beauty company).

It's like an ice cream company buying a travel agency; it's not impossible, it's just quite shocking if it happens.

Edit:
Oh wow I didn't realize that CT already owned companies such as SportChek and Marks🤔 TIL.
- Canadian Tire already owns SportChek and Mark's, they are already in the clothing space.
  
  I also take issue with the description of Canadian Tire, they are a department store focusing on automotive, tools, home and garden, kitchen, and sporting goods.
  
  Their businesses aren't that drastically different, and it sounds more like they want the brand for a smaller range of goods using HBC stripes.
  
  And Atmosphere.
  
  I'm just glad it's staying in Canada
- I mean Canadian Tire is more of a general store. Hudson Bay started out as a general store and evolved to a more upper class department store. It's way classier or at least it is meant to be but I totally see the link between the two.
  
  Also, Canadian Tire has more than just the Canadian Tire stores now, they own Mark's, Sports Chek, Helly Hansen, Sher-Wood and a couple of other sport related stores in Quebec primarily focused on Hockey, they've been slowly expanding for a couple of years.
- Much like HBC, Canadian Tire has a lot of overpriced retail. They don't overlap much beyond kitchenware though.
  
  I guess this gets Canadian Tire into the full department store business like Walmart, Target, or Sears. Now they just need to start selling groceries (again).
- Canadian Tire also owns Helly Hansen, Paderno and many other brands.
- I'm not too surprised, but I think CT needs to be careful with how many product categories they have. Earlier this year they sold off the Helly Hanson brand ($1.3bil), so they've got a hole in their portfolio to fill during the 4-year/$2bil restructuring.

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