Comprehensive M&A data with integrated detailed company information

Canada Goose takes a flutter on the stock market
Posted on Thursday, 16 February 2017 14:52
Canadian winter coat maker Canada Goose has ended several months of speculation after filing to go public both at home and in the US in order to boost brand awareness south of the border and accelerate scale in Western Europe.

The British Columbia manufacturer known for its extreme outwear clothing, which is designed to withstand the country’s toughest weather, has set a placeholder of USD 100.00 million for its sale of subordinate voting shares.

It is targeting a listing on the New York Stock Exchange and on the Toronto Stock Exchange but as the process is still in the early stage the size and price are not yet known.

A total of 13 underwriters, ranging from CIBC Capital to Wells Fargo and Nomura, are handling the initial public offering of new and existing shares which would give Bain Capital a full or partial return on its investment.

The private equity house led an institutional buyout of the parka manufacturer in November 2013 and currently owns a 70.0 per cent stake, with a company indirectly controlled by the chief executive holding the balance.

Canada Goose sells men’s, women’s and children’s clothing through outdoor, luxury and online retailers and distributors in 36 countries.

The group, which was founded in 1957, also operates e-commerce sites in Canada, the US, the UK and France and two recently-opened stores in Toronto and New York City.

Revenue has risen at a 38.3 per cent compound annual growth rate (CAGR), and net profit at a 196.0 per cent CAGR, between the financial year ended 31st March 2014 and FY 2016.

In the nine months to 31st December 2016 Canada Goose posted net profit of CAD 45.07 million on turnover of CAD 352.68 million, compared to CAD 35.69 million on CAD 248.91 million over the same timeframe in 2015.

Proceeds will be used to partially pay down total indebtedness which stood at CAD 278.10 million as of 31st December 2016.

© Zephus Ltd