IPO Watch: Canada Goose May Be Very Stylish This Winter
Luxury coat maker Canada Goose Inc. Is reportedly planning for an initial public offering or IPO within next three months.
The Toronto based winter-apparel maker aims for a valuation of up to $2 billion and to raise up to $300 million through IPO.
Bain Capital owns majority of stake in Canada Goose since 2013. The company started as Metro Sportswear Ltd in Toronto in 1957 has been dealing with woollen vests,
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raincoats, and snowmobile suits and changed its name to Canada Goose in the seventies. It recorded a miraculous growth from an outerwear company to international luxury brand over a few decades. The company has opened two standalone stores in Toronto and New York City in November, 2016.
Bloomberg has reported that the Offering will be lead by Credit Suisse Group AG, Canadian Imperial Bank of Commerce and Goldman Sachs Group Inc.
Canada Goose Inc. is planning to go public as soon as next month, people with knowledge of the matter said, in an initial public offering that could value the company at about $2 billion.
The Toronto-based retailer, backed by Bain Capital and known for its trademark $900 parkas with coyote fur-lined hoods, is aiming to go public in February or March, said the people, who asked not to be identified because the information is private.
Canada Goose is planning on selling 10 percent to 15 percent of the company to the public in both the U.S. and in its home country, said one of the people, implying an IPO size of $200 million to $300 million.
In 2013, when Bain acquired a majority stake in Canada Goose, the company was valued at about $250 million, the person said. Terms weren’t disclosed at the time.