Canadian Tire has struck a deal worth $898.8 million to sell outdoor-and-workwear business Helly Hansen to Kontoor Brands as the Canadian retailer tightens its focus on its home market.

“It ticks all the boxes for us,” Baxter said, pointing to Helly Hansen’s expertise in both outdoor and workwear, the cornerstones of Kontoor’s business. “We get that in one fell swoop.”

Canadian Tire Corp. Ltd. has reached an agreement to sell Helly Hansen to US-based Kontoor Brands in a deal valued at nearly $1.3bn, according to BNN Bloomberg. The company stated that this decision allows it to concentrate on its Canadian retail operations while delivering value to shareholders.