Top Stories: National

Canadian Tire signs deal to buy sportswear maker Helly Hansen for $985 million plus debt

TORONTO — Canadian Tire Corp. Ltd. has signed a deal to buy Helly Hansen, a maker of sportswear and workwear based in Norway, for $985 million.

Under the deal for the company controlled by the Ontario Teachers’ Pension Plan, Canadian Tire also assume $50 million in debt.

The retailer said outdoor and workwear are core products in its stores and it has had a long history with Helly Hansen as one of its largest customers.

“For more than 10 years, Helly Hansen has been an exceptional fit with CTC and this acquisition will strengthen our assortment across all of our banners,” Canadian Tire chief executive Stephen Wetmore said in a statement.

business.financialpost.com

RioCan CEO says legal marijuana sector 'another great tenant for us' - BNN Bloomberg

The head of one of Canada’s largest real estate companies says the company is seeing growing demand in Canada’s burgeoning marijuana sector.

bnnbloomberg.ca

RioCan beats estimates, but ‘retail apocalypse’ fears continue to weigh on stock

Despite a lot of change in the retail environment the REIT said its occupancy rates are around historic highs

business.financialpost.com

Shopify looks to offer more services, products as part of growth strategy

Canadian company seeks to be the future of retail entrepreneurship as it sees itself as the local-focused alternative to large marketplaces like Amazon

theglobeandmail.com

Grocery industry is stable despite ‘a couple black eyes,’ expert says | Canadian Grocer

During a conference session at SIAL in Montreal last week, Sylvain Charlebois, dean of the faculty of management at Dalhousie University, sat down with Paul Uys, senior director external of the Arrell Food Institute of the University of Guelph (and a former Loblaw executive) to discuss the current state of the Canadian grocery industry.

The two touched on everything from blockchain technology to Amazon and the rise of the halal food market. Here is an edited version of their conversation...

canadiangrocer.com

Exporting Vancouver’s hipster look to Asia | Asian Pacific Post

Across Canada’s many university campuses, it is hard to miss products from Vancouver-based Herschel Supply Company.

Herschel, often known for its backpacks that blend simplicity and style, has quickly become the quintessential accessory for Canadian students. In 2017, Herschel chose China as the epicenter for the global Herschel phenomenon, making its Shanghai office, a wholly owned foreign enterprise, the entry point into the Chinese and greater Asia Pacific retail market...

asianpacificpost.com