Winter clothing maker Canada Goose seeks new investors
By Arno Schuetze, Olivia Oran and Susan Taylor
April 15 (Reuters) - Winter clothing maker Canada Goose Inc has appointed investment bank Canaccord Genuity to explore options and perhaps tempt new investors as demand soars for its fashionable cold-weather gear, sources familiar with the situation said.
Industry sources said the fast-growing Toronto-based company might consider an outright sale. But Canada Goose said it is, at most, seeking to sell a minority.
"We're certainly exploring options to introduce additional equity into the company," Canada Goose Chief Executive Dani Reiss told Reuters on Monday.
He insisted that the family-owned company is not for sale, but said it would consider bringing on a "value-added minority partner".
Canada Goose has turned its pricey fur-lined parkas and other accessories into must-have cold-weather items.
The company was founded in 1957 in a small warehouse in Toronto by Sam Tick, Reiss's grandfather, and it bucks the global manufacturing trend by making its puffy winter gear in Toronto and in Winnipeg, Manitoba, and not in locations with lower labor costs.
"We stay in Canada because that's who we are," the company says on its website, which profiles such customers as an Iditarod dogsledder and a record-setting mountain climber.
The industry sources said the search for new investors is set to begin next month, when information packages will be sent to such potential bidders as Nike, Adidas, Helly Hansen, The North Face, and Percival. Continued...