Canada Goose Receives Take-Private Bids Valuing Brand at $1.35 Billion USD
Canada Goose, the popular outerwear brand, has recently received take-private bids that value the company at a whopping $1.35 billion USD. This news has caused a 16% increase in the company’s shares, making it a hot topic in the business world.
According to CNBC, Canada Goose’s controlling shareholder, Bain Capital, has received interest from firms looking to take the brand private. This has led to a significant increase in the company’s shares, showing just how valuable the brand is.
Bain Capital, which acquired Canada Goose in 2013, is now looking to sell its holding in the company. Goldman Sachs is advising on the sale, and Bain will make a final decision once more offers become available. However, the firm has stated that due diligence will likely take less than two months once a buyer is selected.
Private equity firm Boyu Capital has reportedly made a verbal offer, and Advent International is also in talks with Bain. Both potential deals value Canada Goose at around $1.35 billion USD, which is eight times the brand’s average annual earnings. Other potential buyers include Bosideng International, a Shanghai-based clothingmaker, and Hong Kong’s Anta Sports Products and FountainVest Capital.
As more information becomes available, stay tuned for updates on this exciting development in the fashion industry.
