Made-in-Canada still key for Canada Goose after sale to U.S. private-equity firm Bain

Made-in-Canada still key for Canada Goose after sale to U.S. private-equity firm Bain

OCT 25, 2014-Canada-Canada Goose president and chief executive Dani Reiss isn��t nervous about selling his quintessential Canadian-made outerwear company to Bain Capital, even with the U.S. private equity firm��s notorious reputation for outsourcing. Canada Goose UK

��Made in Canada is extremely important, and extremely important to Canada Goose, and we��ve chosen partners to whom it is also extremely important to,�� Mr. Reiss said in an interview. ��And I have no expectation that that��s going to change. If I thought that it was going to change, I would not have done this deal.��

The Toronto-based, family-owned extreme-weather outerwear company announced Tuesday that it has agreed to sell a ��majority stake�� to Boston-based Bain. The financial terms of the private transaction were not disclosed.

Mr. Reiss will remain president and chief executive of the company, and will retain a ��significant minority stake�� in Canada Goose UK Jackets, telling Reuters his stake will be more than 10%.

Canada Goose was founded in a small Toronto-warehouse in 1957 by Mr. Reiss��s grandfather Sam Tick. But the brand has taken off rapidly in the last decade by marketing its Made-In-Canada ethos and trendy goose down parkas with red, white and blue circular patches to Europeans, who have flocked to the outerwear. Celebrities such as Toronto-born rapper Drake have been spotted donning the puffy coats.

Canada Goose apparel such as Canada Goose UK that retail for upwards of 800 dollars is now sold in more than 50 countries. The company employs more than 1,000 people around the globe, but its products are made in Toronto and Winnipeg (when many manufacturers are moving production to locales with lower labour costs). Canada Goose has annual sales of roughly $200-million, according to Reuters.

In April, the company appointed investment bank Canaccord Genuity to begin shopping around for a minority partner to introduce additional equity into the company. They chose Bain Capital because they were the ��best partner,�� given their global reach, said Mr. Reiss.

About Canada Goose UK

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