Summary
- Canada Goose has received take-private bids valuing the brand at $1.35 billion USD.
- The report led to a 16% increase in the company’s shares.
Canada Goose’s controlling shareholder, Bain Capital, received interest from firms looking to take the outerwear label private earlier this week, leading to a 16% increase in the company’s shares, according to CNBC.
Per the outlet, Bain Capital, which acquired Canada Goose in 2013, aims to sell its holding in the company, and Goldman Sachs is advising on the sale. Bain will not make a final decision until more offers become available; however, the firm did note that due diligence will likely take less than two months once it has selected a buyer.
Boyu Capital, a private equity firm, has reportedly made a verbal offer, and Advent International is in conversation with Bain. Notably, both potential deals value Canada Goose at roughly $1.35 billion USD, which is approximately eight times the brand’s average annual earnings.
According to Business of Fashion, additional potential buyers include Bosideng International, a Shanghai-based clothingmaker, and both Hong Kong’s Anta Sports Products and FountainVest Capital.
Stay tuned as more information becomes available.
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