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

Hudson’s Bay’s is getting a second life with a new owner Canadian Tire Corp. Ltd.

Canadian Tire says it will pay $30 million to the beleaguered retailer that’s Canada’s oldest company says it plans to sell its intellectual property to retailer.

The sale includes the overarching Hudson’s Bay brand, its iconic, multi-coloured stripes motif, its coat of arms and other brand trademarks.

The deal allows products under these names to be sold by Canadian Tire, which also owns SportChek, Party City, Mark’s and Pro Hockey Life, at their 1,700 stores.