Canadian Tire acquires Hudson's Bay Company brand

 

 

Canadian Tire has acquired the Hudson's Bay Company brand, Canada's oldest department store chain. Canadian Tire acquired the Hudson's Bay brand for 30 billion Canadian dollars.

Hudson's Bay Company had decided to close all its stores and sell its remaining assets a few months ago. The decision was made in light of the changes in the retail sector after Covid and the uncertainties following tariffs. Following this, another retail chain in the country, Canadian Tire, has decided to acquire the Hudson's Bay Company brand. Canadian Tire is a chain with 1,700 stores across the country. The 350-year-old Hudson's Bay was founded in 1670. The company started out by manufacturing wool blankets and later became a department store. Hudson's Bay also had stores in major parts of most cities. Even if these stores were to close, it was a relief to many that one of the country's oldest brands would still survive.