Kontoor Brands Inc., the parent company of Wrangler and Lee, is set to acquire Helly Hansen from Canadian Tire Corp. in a $900 million deal, the companies announced Wednesday. The transaction positions Kontoor to strengthen its foothold in the booming outdoor and workwear market, tapping into a wealthier, younger, and more active consumer base worldwide.
A Move to Scale and Elevate the Business
Kontoor, headquartered in Greensboro, North Carolina, sees the acquisition as a catalyst for growth, aiming to boost operational profits and cash flow while further solidifying its global presence.
“Kontoor Brands is uniquely positioned to partner with Helly Hansen’s management to scale and elevate the business globally,” said Scott Baxter, Kontoor’s president, CEO, and chair.
“This acquisition perfectly aligns with our strategy to diversify our brand portfolio, accelerate growth, and create long-term value for our shareholders.”
The transaction is slated to close in Kontoor’s second fiscal quarter of 2025, pending regulatory approvals and closing conditions.
