Kontoor Brands, Inc. announced it has signed a definitive agreement to acquire Helly Hansen, the global outdoor and workwear brand, for approximately $900 million from Canadian Tire Corporation. The transaction is expected to close in the second fiscal quarter of 2025, subject to regulatory approvals. Helly Hansen is projected to generate over $680 million in revenue for the full year 2025.
This acquisition is a pivotal step in Kontoor's strategy to evolve and expand its portfolio of brands, accelerating growth and delivering long-term value for shareholders. The move diversifies Kontoor’s portfolio across channels, geographies, categories, and consumers, leveraging its global operating platform and deep management expertise.
Scott Baxter, President, CEO, and Chairman of Kontoor Brands, stated that the acquisition is a perfect fit for their strategy. The company expects Helly Hansen to be immediately accretive to revenue, earnings, and cash flow, enhancing Kontoor's capital allocation optionality and driving significant shareholder value creation.
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