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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Central Alberta protester supports rail blockades across Canada

A protester, with a chain around his neck, stood near Samson Cree… Continue reading

Alberta and two First Nations make deal for proposed oilsands mine

EDMONTON — The Alberta government has struck deals with two northern Alberta… Continue reading

Blockades remain in place as Wet’suwet’en hereditary chiefs returning to B.C.

Hereditary chiefs from Wet’suwet’en First Nation are expected to return to British… Continue reading

Fort Macleod, Alta., to get special advance screening of new ‘Ghostbusters’ film

There will be something strange in the neighbourhood of Fort Macleod, Alta.,… Continue reading

Hundreds turn up at Coldest Night of Year walk in Red Deer

It wasn’t the coldest night of the year, which probably helped the… Continue reading

Fashion Fridays: The 8 best quality online stores! Shop the ultimate sales

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Your community calendar

Feb. 19 A Liberation of Holland event is being held at the… Continue reading

Wranglers win wild Game 1 double OT thriller over Red Deer Vipers

The best-of-seven series continues Sunday in Sylvan Lake

Kings and Queens basketball triumph over Ambrose, keep playoff hopes alive

Guard Sandra Garica-Bernal sets new Queens all-time steals mark

Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world… Continue reading

View of a longtime economist: Slower growth but no recession

WASHINGTON — In this high-profile election year, the U.S. economy boasts an… Continue reading

Amy, chasing: Klobuchar, already beating odds, faces uphill climb

WASHINGTON — It’s been a running gag ever since she launched her… Continue reading

B.C. money laundering inquiry to begin amid hopes for answers, accountability

VANCOUVER — British Columbia’s attorney general hopes an inquiry into money laundering… Continue reading

Russian spy case documents missing or destroyed, Canada’s info watchdog finds

OTTAWA — Federal officials lost or possibly destroyed sensitive records about the… Continue reading

Most Read