Hudson’s Bay Co., closing its doors, has agreed to sell its intellectual property, including its famous stripes and logos, to Canadian Tire Corp. for $30 million.
“Canadian Tire and the Hudson’s Bay Co. are among the nation’s longest-standing companies, with a combined Canadian heritage measured in centuries,” Canadian Tire CEO Greg Hicks said in a news release yesterday. “Some things are just meant to stay Canadian and we are honoured to welcome many of HBC’s leading brands—including the iconic HBC coat of arms and the stripes—into our Canadian Tire family.”
