Bain Capital LLC, the global private investment firm with $70 billion in assets under management, bought a majority stake in Canada Goose Inc., the maker of parkas worn by researchers at the South Pole.
Dani Reiss, chief executive officer of Canada Goose, will remain in his position and will keep a “significant minority stake” in the company, according to a statement today. The price wasn’t disclosed.
“Bain Capital has a long and impressive track record of successfully investing in beloved Canadian companies, and we are thrilled to bring them on board,” Reiss said in the statement.
Bain Capital, based in Boston, has invested in other Canadian retailers and consumer brands including Toronto-based Shoppers Drug Mart Corp. and BTI Systems Inc.
Canada Goose, which began in a small warehouse in Toronto about 55 years ago and is headquartered in that city, employs more than 1,000 people. Its fur-lined coats are sold in 50 countries, and are used by researchers in the South Pole and the Canadian high Arctic, the company said.
Canaccord Genuity Group Inc. advised Canada Goose, with financing for the deal provided by Canadian Imperial Bank of Commerce.