Canadian Tire closes $985 mln buy of Ontario Teachers’ Helly Hansen
Canadian Tire Corp Ltd (TSX: CTC, CTC.A) has closed its acquisition of Helly Hansen, an Oslo, Norway-based maker of sportswear and workwear. The deal, announced earlier this year, is valued at $985 million. Canadian Tire also assumed $50 million of the company’s operating debt. Founded in 1877, Helly Hansen has since 2012 been majority owned by Ontario Teachers’ Pension Plan. Ontario Teachers’ initially acquired about 75 percent of the business from Altor Funds. It bought the remaining interest in 2015. Based in Toronto, Canadian Tire provides a range of retail goods and services.
4 July 2018•2 mins read
