Canadian Tire Snaps Up Hudson's Bay Trademarks in $30 Million Deal

Canadian Tire Acquires Hudson's Bay Trademarks for $30 Million In a significant development in the Canadian retail landscape, Canadian Tire has successfully acquired the intellectual property of the bankrupt Hudson's Bay Company (HBC) for $30 million. An Ontario court approved the deal, granting Canadian Tire ownership of HBC's most recognizable assets, including the iconic "The Bay" name, its distinctive coat of arms, and the instantly recognizable point stripes. This acquisition marks a turning point in the saga of HBC, Canada's oldest company, which filed for creditor protection earlier this year and subsequently closed all 96 of its stores. "The $30-million deal will give Canadian Tire the rights to the Bay name, its coat of arms and iconic stripes," stated a CBC News report. The deal also includes the Hudson's Bay's Distinctly Home brand and trademarks such as Bay Days. Canadian Tire beat out a dozen other bidders for the rights. The sale allows HBC to partially settle its debts before disappearing entirely after 355 years in business. The court's approval provides a degree of closure and allows the recognizable brands to continue, albeit under new ownership. This transition represents a significant shift in the Canadian retail market, with Canadian Tire poised to leverage the acquired trademarks.