Marquee Brands Buys Roots, and Its 21st Brand Comes With a Beaver
The Ben Sherman and Laura Ashley owner is taking the Canadian heritage label private at C$4.10 a share — a 36% premium — with Joe Mimran along for the creative ride.
Marquee Brands has agreed to acquire Roots, the Canadian outdoor and lifestyle label and one-time Olympic outfitter, taking the Toronto Stock Exchange-listed company private at C$4.10 per share in cash — roughly a 36% premium to where the stock had been sitting.
It is the 21st brand in the New York firm's portfolio, which already includes Ben Sherman, Laura Ashley, Roberto Cavalli — added earlier this summer — and sock label Stance, picked up last November. The pace is the point: Marquee has been assembling heritage names faster than most strategics can clear a board meeting.
The interesting wrinkle is the partner. Marquee has teamed with JM&A Design and Development, led by Canadian retail veteran Joseph Mimran as president and creative director. Mimran built Club Monaco and Joe Fresh; putting him near a 50-year-old Canadian brand with a beaver on the label is a signal about design intent, not just licensing math.
Roots is expected to hold a shareholder meeting in October, with closing anticipated in the fourth quarter. What follows is the part every brand-management acquisition promises and few deliver: global expansion for a label whose equity is almost entirely built on being unmistakably, sentimentally Canadian.
Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →
