Deals
Iconic Canadian Retailer Roots Seeking to Go Public
- Iconic retailer said to seek to raise about C$200 million
- Company sold majority stake to Searchlight Capital in 2015
Shoppers enter a Roots store on Bloor Street West in Toronto.
Photographer: Galit Rodan/BloombergThis article is for subscribers only.
Roots Canada Ltd., the iconic retailer known for its casual wear and leather goods emblazoned with beaver logos, has hired banks to prepare an initial public offering this year, according to people familiar with the matter.
The Canadian clothing company is working with Toronto-Dominion Bank, Credit Suisse Group AG and Bank of Montreal on the share sale, the people said, asking not to be identified as the details aren’t public. Roots could seek to raise about C$200 million ($159 million), they said.