Hudson’s Bay to Sell Name, Stripes, Brands to Canadian Tire for $30 Million

This composite image shows signage of Canadian Tire, left, and the Bay. The Canadian Press/Sean Kilpatrick, Pawel Dwulit

Hudson’s Bay is getting a second life with a new owner—Canadian Tire Corp. Ltd.

Canadian Tire said Thursday that it will pay $30 million for intellectual property belonging to the retailer, which is Canada’s oldest company.