Canadian Retailer Aritzia to Hire Banks for IPO This Yearby and
Vancouver-based retailer said working with CIBC, TD, BofA
Company said planning to list on TSX before end of 2016
Canadian fashion retailer Aritzia LP is working with banks to prepare for an initial public offering as soon as this year, according to people familiar with the matter.
The Vancouver-based retailer hired Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, and Bank of America Corp. to work on the sale, said the people, who asked not to be identified because the matter is private. It could file preliminary paperwork with regulators as early as this week, the people said.
Aritzia’s shares are likely to trade on the Toronto Stock Exchange, said the people.
In 2005, Boston-based private equity firm Berkshire Partners LLC bought a majority stake in the company for an undisclosed sum.
Representatives for Bank of America, CIBC and TD declined to comment. Representatives for Aritzia didn’t respond to requests for comment, while Berkshire Partners didn’t immediately return requests for comment outside of regular business hours.
Launched in Vancouver in 1984, Aritzia has more than 70 retail locations across North America, including in New York, Toronto, Montreal, Boston, Chicago, and San Francisco, according to its website. The company sells clothes and accessories aimed at 15-to-30-year-old female shoppers.