Canada Goose is looking for additional investors, but contrary to rumors the company is not seeking an outright sale, officials told SNEWS.
“Canada Goose has been growing dramatically over the last decade and we want to continue on that incredible trajectory,” Canada Goose Vice President for Corporate Communications Carrie Baker said. “We're currently exploring options of introducing additional equity with a value-added minority partner to help fuel that growth.”
Founded in 1957, Canada Goose is best known for its winterwear and fur-lined parkas. The brand manufactures its products in Canada.
According to Reuters news agency, sources say Canada Goose has “appointed investment bank Canaccord Genuity to explore options,” but the company has neither confirmed nor denied those details.
The sources also told Reuters that Canada Goose’s annual revenues are about C$200 million ($196 million).
“The market for specialized outdoor clothing is expanding rapidly, with both sportswear companies and financial investors keen to gain a share in this profitable business,” Reuters reported.
As reported in SNEWS, 2012 was a big year for acquisitions and mergers in the outdoor industry as credit loosened and buyers and sellers both saw opportunities.