×
48
Fashion Jobs
FOREO
SEA Business Development Manager
Permanent · Singapore
SHISEIDO
Travel Retail - Marketing Executive, Anessa & Elixir
Permanent · Singapore
SHISEIDO
Travel Retail - Marketing Manager, The Ginza Brand & Ipsa
Permanent · Singapore
AESOP
Retail Consultant
Permanent · Singapore
LEVI'S
Regional Learning And Development Manager
Permanent · Singapore
SHISEIDO
Singapore - Demand & Supply Planning Manager
Permanent · Singapore
SHISEIDO
Travel Retail - Digital Marketing Manager, Prestige & Cosmetics
Permanent · Singapore
SHISEIDO
Asia Pacific - Consumer Market Intelligence Manager
Permanent · Singapore
SHISEIDO
Asia Pacific - Regional Marketing Manager, Clé de Peau Beauté
Permanent · Singapore
FOREO
SEA Business Development Specialist
Permanent · Singapore
SHISEIDO
Travel Retail - Area Sales Manager, Korea
Permanent · Singapore
SHISEIDO
Asia - Regional Marketing Executive, Acpc
Permanent · Singapore
SHISEIDO
Travel Retail - Marketing Manager, Clé de Peau Beauté
Permanent · Singapore
SHISEIDO
Travel Retail - Brand Manager, Nars
Permanent · Singapore
SHISEIDO
Travel Retail - Retail Design Assistant Manager
Permanent · Singapore
SHISEIDO
Travel Retail - IT & Security Manager
Permanent · Singapore
SHISEIDO
Asia Pacific - Regional Retail Design Executive
Permanent · Singapore
SHISEIDO
Travel Retail - Retail Manager, SEA, Prestige
Permanent · Singapore
FOREO
Beauty Advisor (Part-Time)
Permanent · Singapore
FOREO
Open Application - South East Asia
Permanent · Singapore
SHISEIDO
Travel Retail - Store Design & Project Executive, SEA & Oceania
Permanent · Singapore
SHISEIDO
Travel Retail - Marketing Assistant Manager, Anessa & Elixir
Permanent · Singapore
Published
May 10, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Canadian Tire buys Helly Hansen for almost C$1bn

Published
May 10, 2018

Diversified retailer Canadian Tire Corp (CTC) is buying Norwegian outdoor brand Helly Hansen with the company saying it’s adding “a global brand and a leader in sportswear and workwear that professionals use and trust.” It’s paying C$985 million for the firm that also includes UK brand Musto.


Helly Hansen



CTC said the purchase supports its vision of becoming the top retail brand in Canada, strengthens its core outdoor and workwear businesses across multiple retail banners, accelerates its ability to distribute current and future owned brands internationally, and will be immediately accretive to CTC “with strong revenue and Ebitda growth trajectory”.

Founded in 1877, Helly Hansen is known for its professional grade and technical performance products developed for the harshest outdoor conditions. Its core categories are sailing, skiing, mountain, urban, rainwear and workwear.

With wholesale and retail distribution capabilities across more than 40 countries, Helly Hansen has strong global recognition and its core categories are also core to CTC's retail banners.

CTC also has a strong existing relationship with the brand via its Mark’s and FGL chains.

"For more than 10 years, Helly Hansen has been an exceptional fit with CTC and this acquisition will strengthen our assortment across all of our banners," said the Canadian firm’s chief executive Stephen Wetmore. "With our capabilities and Helly Hansen's trusted global brand and management team, we see tremendous opportunity in Canada and internationally.”

Helly Hansen’s own CEO Paul Stoneham said the deal “provides us with the ideal platform to further accelerate our growth trajectory and also strengthen our Canadian presence.”

The acquisition is expected to close in Q3 and, as mentioned, will be immediately accretive to earnings and cash flow even before the realisation of synergies. The transaction is not subject to financing conditions as CTC "has ample financial flexibility to fund the acquisition and to maintain its current investment grade credit rating.”

Stoneham and his team, based in Oslo, Norway, will continue to lead the business, reporting to CTC Executive VP Mahes Wickramasinghe.

Copyright © 2022 FashionNetwork.com All rights reserved.