In June 1978, Zellers presented a bid to acquire 100% ownership of the Hudson's Bay Company (HBC). HBC management, recognizing Zellers profitability and the potential to enter a new retail segment, decided to purchase Zellers instead. Zellers and Fields, operating in very different retail segments from HBC, were kept intact and established as separate divisions of the company. HBC acquired full ownership of Zellers and Fields in 1981 and Marshall Wells in 1982. By 1985, HBC had sold Marshall Wells for $20 million, because it was not relevant to its department store business.