Shares of lifestyle apparel company known for brands like Wrangler and Lee, Kontoor Brands, Inc. (NYSE:KTB), are trading lower in premarket on Wednesday. Kontoor Brands has announced its acquisition of Helly Hansen,

The addition of Helly Hansen, which was acquired from Canadian Tire Corp., is expected to accelerate sales, earnings and cash flow for Kontoor, the owner of the Wrangler and Lee brands, while furthering its reach in the outdoor and workwear market.

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.