Canada's 355-Year-Old Hudson’s Bay Charter Sold for C$18 Million

The 1670 Royal Charter granted the Hudson's Bay Company sweeping authority to govern vast lands that would later become part of Canada. This historic document recently sold at a Canadian auction for C$18 million, with proceeds earmarked to support public museums and archives. Keeping the charter in Canadian hands highlights its national significance.

What the charter did

Issued by King Charles II in 1670, the charter gave the company power to create laws, appoint officials, and oversee trade across large swaths of territory. In effect, the document allowed the firm to operate as both a business and a governing body in early Canadian history. It also laid the groundwork for later territorial changes, including Canada’s acquisition of lands from the British Crown in 1869, a process historians say was not always conducted with Indigenous consent.

The sale and who bought it

The Hudson's Bay Company faced severe financial difficulties last year, leading to bankruptcy and the closure of its department stores. The winning bid came from two Canadian groups: Wittington Investments Ltd., controlled by the Weston family, and DKRT Family Corp., led by David Thomson, chair of Thomson Reuters. The agreed price was C$18 million, plus a pledge of C$5 million to support the custodial museums for education and public outreach.

Where the charter will be kept

The charter will be jointly held by the Archives of Manitoba, the Manitoba Museum, the Canadian Museum of History, and the Royal Ontario Museum. These institutions will collaborate with Indigenous communities to present the charter with context and sensitivity, ensuring its full history is acknowledged.

Context and significance

From its earliest days, the charter enabled the Hudson's Bay Company to operate with extensive regulatory power, contributing to the expansion of trade and early colonial governance. Its later role in shaping land transfers to Canada remains controversial due to concerns about Indigenous rights and consent. The document spent time at Windsor Castle, then at the company's London headquarters, before World War II when it was kept at a country estate in Hertfordshire. It finally found a home at the Toronto headquarters in the 1970s.

Many Hudson's Bay Company records were donated to Manitoba in the 1990s, but the charter remained with the company until its bankruptcy prompted the sale.

Officials say the sale reflects a broader trend of transferring valuable historical assets from private hands to public institutions, paired with education and transparency commitments.

Expert comment: Dr. Cody Groat, an assistant professor at Western University, notes that the charter acted as both a business instrument and a governing authority in early Canada. He also stresses that its history includes controversial land transfers that affected Indigenous communities.

Summary

The charter's sale keeps this pivotal document within Canada and places it under the care of major public institutions. The winning bidders, the Weston family investment group and David Thomson's DKRT, also commit a C$5 million education fund to support public programs. The arrangement involves Indigenous communities, and final transfer hinges on court approval.

The move to place the charter in public, multi-institution custody reflects a broader effort to keep national treasures accessible and contextualized for learners and researchers. BBC News