Canadian Tire plans to steward the HBC coat of arms and Stripes, with purchase of iconic Hudson's Bay Company brand assets

Canada NewsWire

TORONTO, May 15, 2025

TORONTO, May 15, 2025 /CNW/ - Canadian Tire Corporation (TSX: CTC) (TSX: CTC.A) (CTC or the Company), today announced that it has entered into a definitive agreement to become the home of iconic Canadian brands and other intellectual property of the Hudson's Bay Company (HBC). This includes the HBC Stripes and various company names, logos, designs, coat of arms and brand trademarks.

The Company released the following statement from Greg Hicks, President and CEO, Canadian Tire Corporation:

"Canadian Tire and the Hudson's Bay Company are among the nation's longest-standing companies, with a combined Canadian heritage measured in centuries. 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.

"This choice feels as strategic as it feels patriotic. It builds on our generational connection to life in Canada and it fits our new True North strategy. The Stripes will add beautifully to our portfolio of owned brands alongside other Canadian favourites that we have fostered and grown, and The Bay and its brands have long been known for their strength in categories that our customers will seek in our stores and online.

"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. Ultimately, customers are at the core of all we do, and by Canadians' reaction to recent rumours of this news, it is clear they see us as a great home for HBC's heritage. We are proud to steward these iconic brands into our -- and their -- next century."

The agreement is subject to court approval and other customary terms and conditions, and CTC expects the transaction to close later this summer. CTC will acquire HBC's intellectual property portfolio, including brand labels and designs for the HBC Stripes, Hudson's Bay Company, The Bay and various other HBC logos and company trademarks, for a purchase price of $30 million. Separately, CTC has bid for a handful of lease locations.

Forward-Looking Information

This press release contains information that may constitute forward-looking information within the meaning of applicable securities laws, which reflect management's current expectations regarding future events and the Company's True North strategy. All statements other than statements of historical facts contained in this press release may constitute forward-looking information, including but not limited to, information with respect to the proposed purchase of the HBC brand assets, plans for the HBC brand assets and the closing date of the transaction. Readers are cautioned that such information may not be appropriate for other purposes. Often, but not always, forward-looking information can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "estimate", "plan", "can", "could", "should", "would", "outlook", "target", "forecast", "anticipate", "aspire", "foresee", "continue", "ongoing" or the negative of these terms or variations of them or similar terminology. Although the Company believes that the forward-looking information in this press release is based on information, estimates and assumptions that are reasonable, such information is necessarily subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking information. For information on the material risks, uncertainties, factors and assumptions that could cause the Company's actual results to differ materially from the forward-looking information, refer to section 14.0 (Forward-Looking Information and Other Investor Communication) of the Company's Q1 Management's Discussion and Analysis, available on the SEDAR+ website at http://www.sedarplus.ca and https://investors.canadiantire.ca. The Company does not undertake to update any forward-looking information, whether written or oral, except as is required by applicable laws.

About Canadian Tire Corporation

Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, "CTC") has been a proudly Canadian business since 1922. Guided by its brand purpose, "We are here to make life in Canada better," CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada's strongest workforces -- employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life's pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark's, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players. CTC's banners, brand partners and credit card offerings are unified through its Triangle Rewards loyalty program -- a linchpin of CTC's customer-driven strategy. With nearly 12 million members, Triangle integrates first-party data to deliver valuable rewards and personalized experiences across nearly 1,700 retail and gasoline outlets. CTC also operates a retail petroleum business and a Financial Services business and holds a majority interest in CT REIT, a TSX-listed Canadian real estate investment trust. For more information, visit Corp.CanadianTire.ca.

For more information:

Media: Stephanie Nadalin, (647) 271-7343, stephanie.nadalin@cantire.com

Investors: Karen Keyes, (647) 518-4461, karen.keyes@cantire.com

SOURCE Canadian Tire Corporation, Limited

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May 15, 2025 17:00 ET (21:00 GMT)