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Canadian Tire Corporation Announces Agreement to Acquire Helly Hansen
Canadian Tire Corporation Announces Agreement to Acquire Helly Hansen Canada NewsW...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Announces Agreement to Acquire Helly Hansen\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 10, 2018\n\n\n\n\nAdds a global brand and a leader in sportswear and workwear that professionals use and trust \nSupports CTC's vision of becoming the #1 Retail Brand in Canada\nStrengthens CTC's core outdoor and workwear businesses across multiple retail banners\nAccelerates CTC's ability to distribute current and future owned brands internationally\nImmediately accretive to CTC with strong revenue and EBITDA growth trajectory \n\n\n\nTORONTO, May 10, 2018 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A) (CTC) announced today that it has entered into an agreement to purchase the company, controlled by the Ontario Teachers' Pension Plan, which owns and operates the Helly Hansen brands and related businesses. Helly Hansen is a leading global brand in sportswear and workwear based in Oslo, Norway. \n\nFounded in 1877, Helly Hansen is known for its professional grade gear and for being a leader in designing innovative and high quality technical performance products developed for the harshest outdoor conditions. Within its core categories of sailing, skiing, mountain, urban, rainwear and workwear, Helly Hansen designs and delivers products used by professionals and outdoor enthusiasts around the world. With wholesale and retail distribution capabilities across more than 40 countries, Helly Hansen is a trusted and celebrated brand worldwide.   \n\nOutdoor and workwear categories are core to CTC's retail banners and, through Mark's and FGL, the Company has had a long history with Helly Hansen as one of its largest customers. This acquisition strengthens CTC's core businesses across multiple banners, increases its brand offerings in Canada and its ability to grow its brands internationally. \n\n\"For more than ten years, Helly Hansen has been an exceptional fit with CTC and this acquisition will strengthen our assortment across all of our banners,\" said Stephen Wetmore, President and CEO, Can...