Helly Hansen, a buyout between Canadians
On May 10, 2018, Canadian Tire Corporation announced the acquisition of Norwegian-based technical apparel specialist Helly Hansen. The amount of the transaction with the Ontario Teachers' Pension Fund is $985 million. The agreement also provides for the assumption of $50 million of debt contracted by Helly Hansen.
A chain of outdoor stores
Helly Hansen's new owner, Canadian Tire, owns many stores across Canada. The company sells all the equipment for outdoor activities, from cars to camping and yachting. It wishes to rely on Helly Hansen's reputation to pursue its international development and the distribution of its own brands abroad.
Maintenance of activity in Norway
Even after the takeover by the Ontario Teachers' Pension Fund in 2012, Helly Hansen's management remained in Oslo, Norway, the brand's home country. The new buyer should maintain the Norwegian foothold, as evidenced by the confirmation in their positions of Paul Stoneham, Helly Hansen's current CEO and his team.
New step after the takeover of Musto
Helly Hansen had already made the news, taking more space in the sailors' wardrobe, thanks to the acquisition in October 2017 of the historic British brand Musto. The arrival of Canadian Tire to the capital should allow Helly Hansen to consolidate its development, after 3 years of growth.