Canadian Tire to buy Hudson’s Bay intellectual property, brand assets

Canadian Tire Corp. is buying the intellectual property portfolio of Hudson’s Bay Co.

Hudson’s Bay Company is not disappearing after all — at least not entirely.

The retailer, which filed for the Canadian equivalent of bankruptcy in March and is the process of liquidating its stores, has entered into a agreement to sell its intellectual property portfolio to Canadian Tire Corp. — one of Canada’s largest retailers — for approximately $30 million (Canadian dollars). 

The deal includes the company’s signature multi-colored stripe design (HBC Stripes) which dates back to 1779, and its coat of arms, along with company names (including The Bay), logos, designs and brand trademarks. It does not include Hudson’s Bay art and artifacts which will be subject to a separate court-approved process. 

Separately, Canadian Tire has bid for a handful of Hudson’s Bay lease locations. (Canadian Tire operates nearly 1,700 retail stores and gasoline outlets across Canada under a variety of banners, including Party City and PartSource; apparel-focused Mark’s and SportChek; Hockey Experts; Sports Experts; Canadian Tire and more.)

“Canadian Tire and the Hudson’s Bay Company are among the nation’s longest-standing companies, with a combined Canadian heritage measured in centuries,” said Canadian Tire president and CEO Greg Hicks. “Some things are just meant to stay Canadian and we are honored to welcome many of HBC’s leading brands — including the iconic HBC coat of arms and the Stripes — into our Canadian Tire Corp.”