Marquee Brands to acquire Canadian retailer Roots
Marquee Brands has entered into an agreement to acquire the Canadian clothing brand Roots.
The company will pay C$4.10 per share for Roots, which is listed on the Toronto Stock Exchange, in a deal that will take the business private.
In addition, Marquee Brands has partnered with JM&A Design and Development, led by Canadian retail experts Joseph Mimran and Frank Rocchetti, which will serve as the core operating partner of Roots.
Subscribe to TRBThis will include overseeing the design, development, manufacturing and distribution of men’s and women’s lifestyle clothing, as well as responsibility for retail and ecommerce operations across Canada and the US, including Roots’ chain of more than 100 North American stores.
Meanwhile, Marquee Brands will focus on global brand stewardship and expansion, as well as new category development.
Heath Golden, chief executive of Marquee Brands, said: “Taking on Roots is an incredible honour, and our strategic partnership with JM&A ensures the brand remains anchored in Canadian culture.
“With that foundation in place, we see significant global opportunity to extend Roots into new categories, markets and consumer segments, while remaining true to all that makes the brand distinctive.”
Meghan Roach, president and chief executive of Roots, said: “This transaction is a strong endorsement of the Roots brand and the momentum behind our business,.
“Over the past several years, we have restored Roots to a position of strength, with a distinctive Canadian identity that resonates with customers here and around the world.
“This transaction brings together Marquee Brands’ global brand-building platform and JM&A’s operational leadership to position Roots for its next chapter of growth. Roots remains proudly Canadian, and we are excited to build on our heritage and pursue the significant growth opportunities ahead.”
