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

Alberta Health Services declared a COVID-19 outbreak at Revera Aspen Ridge on Feb. 1. (Photo by Advocate staff)
Two COVID deaths linked to Revera seniors residence in Red Deer

35 active COVID cases at seniors residence

Red Deer musician Lorry Boschman has written a song about love in the time of COVID-19. Proceeds from his single, Romance during a Pandemic, will be donated to the local United Way. (Contributed photo).
Local musician records a song about love in the time of COVID-19 — for charity

Lorry Boschman will donate some proceeds to the United Way

Preliminary data shows Alberta’s suicide rate declined in 2020 — but some mental health critics say it’s too early to draw any conclusions since more dire pandemic impacts are only now being felt. (metrocreative stock)
Alberta’s suicide rate seems to have declined in 2020

But some experts say it’s too early to credit the pandemic

The union representing workers at the Olymel meat processing plant in Red Deer confirmed the death of a worker on Wednesday. (Advocate file photo)
Union confirms death of worker from Olymel plant

An investigation by the UFCW 401 local has confirmed another death connected… Continue reading

The courthouse in Iqaluit, Nunavut, is shown on Wednesday, Oct. 7, 2020. A Nunavut judge has granted a mining company's request for an injunction against hunters who protested at its site for a week last month, halting the mine's operations. THE CANADIAN PRESS/Emma Tranter
Nunavut judge grants injunction against hunters who protested at mine site

Nunavut judge grants injunction against hunters who protested at mine site

A woman walks towards the entrance of the TransAlta headquarters building in Calgary, Alta., Tuesday, April 29, 2014. Calgary-based power generator TransAlta Utilities Ltd. says it has set a goal to be carbon neutral by 2050. THE CANADIAN PRESS/Larry MacDougal
Alberta utility TransAlta vows to be carbon neutral by 2050 as it notes $167M loss

Alberta utility TransAlta vows to be carbon neutral by 2050 as it notes $167M loss

Pedestrians walk past Shell Canada's headquarters before a news conference in Calgary on August 26, 2010. THE CANADIAN PRESS/Jeff McIntosh
Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

A sign board in Toronto shows the closing number for the TSX on Thursdsay October 29, 2020. THE CANADIAN PRESS/Frank Gunn
Investor frenzy accelerates Canada stock market activity in February, TMX reports

Investor frenzy accelerates Canada stock market activity in February, TMX reports

Falling Canadian dollar coins or loonies are pictured in North Vancouver, B.C., Wednesday, May 29, 2019. THE CANADIAN PRESS/Jonathan Hayward
North American stock markets fall as technology takes hit from higher bond yields

North American stock markets fall as technology takes hit from higher bond yields

Conservative leader Erin O’Toole holds a press conference on Parliament Hill in Ottawa, Tuesday, March 2, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Conservative MP David Sweet joins chorus calling for end to COVID-19 restrictions

OTTAWA — A Conservative MP has joined the chorus of voices calling… Continue reading

The Onslow Belmont Fire Brigade is seen in Lower Onslow, N.S., Wednesday, April 22, 2020. The RCMP says two officers who fired towards a civilian and another RCMP officer during last year’s mass shooting will remain on administrative duties until internal inquiries are completed .THE CANADIAN PRESS/Andrew Vaughan
N.S. RCMP who shot at firehall on administrative duty during internal reviews of case

HALIFAX — The RCMP says two officers who fired towards a civilian… Continue reading

Prime Minister Justin Trudeau rises during question period in the House of Commons on Parliament Hill in Ottawa, Wednesday, Feb. 24, 2021. Efforts to increase Canada's ability to produce vaccines is among over 100 projects receiving new federal money. THE CANADIAN PRESS/Sean Kilpatrick
Over 100 new projects to get $518 million in federal research funding

OTTAWA — Efforts to boost Canada’s ability to produce vaccines are among… Continue reading

Most Read