Extreme weather apparel maker Canada Goose sells majority stake to Bain Capital

Canada Goose, one of the world’s leading makers of extreme weather jackets, is selling a majority stake in the company to private investment firm Bain Capital.

Canada Goose, one of the world’s leading makers of extreme weather jackets, is selling a majority stake in the company to private investment firm Bain Capital.

While the terms of the deal were not disclosed, it marks the latest effort by Canada Goose to expand its reach into new markets around the globe and beef up its local manufacturing operations.

Under the agreement, Dani Reiss will remain president and chief executive and continue to hold “a significant minority stake” in the company, which prides itself on making all of its winter jackets in Canada.

Canada Goose has hit the accelerator on expansion over the past few years as it responds to a stronger demand for its jackets.

“I believe that we’re going to grow substantially,” Reiss said in a recent interview with The Canadian Press about the company’s future.

“You have to think ahead and you have to look out a number of years,” he added.

“You have to invest in your infrastructure, your team … and you have to have a strong strategic planning process.”

Founded in a small warehouse in Toronto more than 55 years ago by Reiss’ grandfather, Canada Goose now employs more than 1,000 people and its apparel is sold in more than 50 countries.

As part of its image, the company has chosen to keep manufacturing operations in Canada for its apparel, which includes jackets, gloves and winter hats. Canada Goose has also expanded into children’s winter wear.

This month, Canada Goose began the final stages of moving to a new factory in Toronto that nearly doubles the size of its workspace to 94,000 square feet.

But staying in Canada comes at a price for both the company and its constomers because of higher labour costs compared with those in Third World countries typically associated with clothing manufacturing.

The jackets generally cost several times more than those of other competitors, which has helped build the company’s name as a high-end brand.

Canada Goose jackets have been seen in Hollywood movies and on celebrities at the Sundance Film Festival.

Boston-based Bain Capital LLC is a global private investment firm with approximately $70 billion in assets under management, which have included companies like Burger King, Clear Channel Communications and Domino’s Pizza.

Since its creation in 1984, Bain Capital has invested in Canadian companies like Shoppers Drug Mart (TSX:SC), Bombardier Recreational Products and Dollarama (TSX:DOL), which has became a hugely lucrative venture as the popularity of dollar stores has soared in Canada.

Just Posted

Signatures Our Best to You Spring show starts Thursday in Red Deer

The event runs until Saturday at Westerner Park

Red Deer mayor wants to discuss status of projects promised before the election with new UCP government

A new homeless shelter and start on Red Deer hospital expansion were promised by New Democrats

Red Deer murder suspect arrested

Quentin Lee Strawberry was arrested on Tuesday, says RCMP

Updated: Industrial fabrication shop in Red Deer destroyed in morning fire

About 30 workers got out safely before building in north end gutted

Updated: Industrial fabrication shop in Red Deer destroyed in morning fire

About 30 workers got out safely before building in north end gutted

Inflation rises 1.9% on higher prices for fresh vegetables, mortgage costs

OTTAWA — Canada’s annual inflation was up last month as price pressures… Continue reading

Netflix adds 9.6M subscribers in 1Q as competition heats up

SAN FRANCISCO — Netflix kicked off the year with the biggest subscriber… Continue reading

Liberals find anti-Trudeau sentiment on campaign trail in Prince Edward Island

OTTAWA — When voters in Prince Edward Island go to the polls… Continue reading

Officer tells of finding body at trial for B.C. dad accused of killing daughters

VANCOUVER — A police officer choked up Tuesday as he recalled finding… Continue reading

Man faces murder charges in slayings of two men, two women in Penticton, B.C.

PENTICTON, B.C. — A former city employee described as a hard-working, civic-minded… Continue reading

A look at Alberta’s elections since the province was created in 1905

EDMONTON — A chronology of Alberta elections: Nov. 9, 1905: Lawyer Alexander… Continue reading

Connor scores in OT as Jets beat Blues to even series

Jets 2 Blues 1 (OT) (Series tied 2-2) ST. LOUIS — Kyle… Continue reading

Teen tennis star Felix Auger-Aliassime has special energy, intensity: coaches

Minutes after speaking with reporters about a tough semifinal loss at the… Continue reading

Most Read