Canada Goose to go pub­lic as soon as Fe­bru­ary

The Globe and Mail (Prairie Edition) - - OPINION - ALEX BARINKA SCOTT DEVEAU

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 (U.S.).

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 identi- fied be­cause the in­for­ma­tion is pri­vate.

Canada Goose is plan­ning on sell­ing 10 per cent to 15 per cent of the com­pany to the pub­lic in both the United States 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.

The last re­tail com­pany to go pub­lic on a U.S. ex­change was rugged ap­parel maker Du­luth Hold­ings Inc. in Novem­ber, 2015, ac­cord­ing to data com­piled by Bloomberg. Cana­dian re­tailer Aritzia Inc. raised $460-mil­lion (Cana­dian) in Septem­ber, in­clud­ing an over­al­lot­ment, the largest Cana­dian IPO of the year amid a dearth of list­ings.

In the past decade, only a dozen ap­parel or shoe com­pa­nies have listed shares in the United States and Canada com­bined, the data com­piled by Bloomberg show. The big­gest such IPO was from yoga-pants maker Lu­l­ule­mon Ath­let­ica Inc., which raised $377mil­lion (U.S.) in 2007, in­clud­ing an over­al­lot­ment.

Rep­re­sen­ta­tives of Canada Goose and Bain de­clined to com­ment.

In re­cent years, buy­ers have flocked to the lux­ury brand, lend­ing ca­chet to wear­ers sport­ing the brand’s trade­mark cir­cu­lar la­bel. In Novem­ber, Canada Goose opened a flag­ship store in New York.

Canada Goose hasn’t al­ways tar­geted the lux­ury win­ter-weather buyer. The com­pany was founded in a small ware­house in Toronto in 1957 as Metro Sports­wear Ltd., spe­cial­iz­ing in woolen vests, rain­coats and snow­mo­bile suits.

The com­pany em­ploys more than 1,000 peo­ple world­wide, ac­cord­ing to its web­site.

Credit Suisse Group AG, Cana­dian Im­pe­rial Bank of Com­merce and Gold­man Sachs Group Inc. are lead­ing the of­fer­ing, peo­ple fa­mil­iar with the mat­ter said in Novem­ber.

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