Sale of Hudson’s Bay trademarks to Canadian Tire approved by court [Video]

Canadian Tire Corp. Ltd.’s historic purchase of Hudson’s Bay trademarks will go ahead after an Ontario judge granted permission for the deal.

In approving the $30-million deal on Tuesday, Judge Peter Osborne called it the “best outcome,” given the 355-year-old company’s recent descent into liquidation.

The deal will give Canadian Tire rights to the Bay name, its coat of arms and its iconic stripes.

Court documents have also shown the deal includes the Bay’s Distinctly Home brand, its Hudson North apparel line, trademarks like “Bay Days” and the Zellers catchphrase “lowest price is the law,” as well as a licensing contract with Oregon-based blanket maker Pendleton Woolen Mills.

The sale to Canadian Tire was the buzziest matter Osborne presided over Tuesday. At the same court hearing, he also approved a receivership application …