The Norwegian outdoor utilizer Helly Hansen gets a new owner. On Wednesday, the American clothing group Kontor Brands Inc. announced that he wanted to acquire the brand from the Canadian retailer Canadian Tire Corporation Limited. A corresponding binding agreement has already been signed, explained the parent company of the Denim labels Wrangler and Lee.
The purchase price for all shares in Helly Hansen quantified Kontor Brands at around $ 900 million (863 million euros). The acquisition is financed with cash and new loans, the group said.
The transaction is still subject to the usual competition law permits and is to be completed in the second quarter of the current financial year according to the current status.
Kontor Brands hopes for new growth opportunities and synergy effects
With the takeover, Kontor Brands strengthens its worldwide presence in the “large and further growing outdoor and workwear segment”, says a message. In addition, she creates opportunities to expand into new categories, markets and sales channels and to “achieve wealthy, active and younger target group”.
In the future, the Helly Hansen brand can benefit from the infrastructure of the new parent company, explained Kontor Brands. The aim is to double the operational margin of the label through the resulting synergy effects.
In the current financial year 2025, Helly Hansen should therefore achieve sales of at least $ 680 million and a result of interest, taxes and depreciation (EBITDA) of $ 80 million.