Kontoor Brands, the parent of the Wrangler and Lee denim brands, was spun off from VF Corp. in 2019. The transaction was first announced on Feb. 19.

Kontoor Brands Inc. has completed the previously announced acquisition of Norwegian sports and workwear brand Helly Hansen from Canadian Tire Corp. (CTC) for approximately $900 million. The transaction was first announced on Feb. 19.

Kontoor Brands, the parent of the Wrangler and Lee denim brands, was spun off from VF Corp. in 2019.

“Today marks an exciting step forward for Kontoor as we expand our portfolio of iconic consumer brands. The acquisition of Helly Hansen will increase our growth profile, drive greater category, channel, and geographic diversification, and increase our penetration in the attractive outdoor and workwear markets,” said Scott Baxter, president, chief executive officer, and chairman of Kontoor Brands. “I want to thank the entire Helly Hansen team for their partnership as we have worked toward this exciting milestone. Together, I am more confident than ever that we will create significant long-term value for our shareholders.”

Helly Hansen is expected to be immediately accretive to the company’s revenue, adjusted earnings per share, and cash flow in fiscal 2025, consistent with the company’s outlook provided on May 6, 2025.

Canadian Tire purchased Helly Hansen in 2018 for Canadian $985 million (U.S. $771m).

 

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