Canada’s wealthiest families unite in $18M bid for historic Hudson’s Bay Charter
Two of Canada's wealthiest families, the Westons and David Thomson, have united in an $18-million joint bid to acquire the Hudson's Bay Company Royal Charter. This move ends weeks of speculation following HBC's postponed auction and has gained significant endorsements.
The Weston and Thomson families initially submitted separate bids of $15 million and $12.5 million respectively. However, they have now joined forces to increase their offer to $18 million. Their proposal aims to donate the historic document to four public institutions under a shared custodianship model. These institutions are the Archives of Manitoba, the Manitoba Museum, the Canadian Museum of History, and the Royal Ontario Museum. Manitoba would be designated as the official home of the document, with its first public exhibition held there. The donation would be accompanied by a $5-million contribution for conservation, public display, education, and a national consultation process involving First Nations, Inuit, and Métis communities. Notably, the National Centre for Truth and Reconciliation has endorsed this proposal, supporting shared custodianship that includes Indigenous voices. HBC is expected to seek court approval for an auction on Nov. 21, with bidders required to register interest by Nov. 28 and an auction held on Dec. 3.
The Weston-Thomson bid, backed by the Desmarais family, Power Corporation of Canada, and the Hennick Family Foundation, seeks to preserve the historic document for public access and education. If successful, it will ensure the Royal Charter remains a significant part of Canada's heritage, with a focus on inclusive and respectful custodianship.
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