Canadian Outdoors Retailer Going Private

Roots Corp. (Toronto) is being bought by Marquee Brands (New York), a brand management/accelerator. The deal, which is slated to close by year-end assuming it gets regulatory and shareholder approval, will “preserve all that makes Roots uniquely Canadian, while bringing the brand to more consumers around the world,” the companies said in a news release.

As part of the transaction, Marquee Brands has partnered with Toronto-based JM&A Design and Development Inc. to serve as core operating partner of Roots, an outdoor lifestyle brand which will continue to be based in Canada. Marquee Brands will focus on global brand stewardship and expansion, as well as new category development.

Terms of the deal were not disclosed.

“Taking on Roots is an incredible honor, and our strategic partnership with JM&A ensures the brand remains anchored in Canadian culture,” said Heath Golden, CEO of Marquee Brands, whose portfolio also include Roberto Cavalli, BCBGMaxazria, Bruno Magli, A Pea in the Pod, Martha Stewart, Laura Ashley, Sur La Table, Emeril Lagasse, Cook’s Country, Isotoner and Totes, among others. “With that foundation in place, we see significant global opportunity to extend Roots into new categories, markets and consumer segments, while remaining true to all that makes the brand distinctive.”

Said Meghan Roach, President and CEO of Roots, “This transaction is a strong endorsement of the Roots brand and the momentum behind our business. Over the past several years, we have restored Roots to a position of strength, with a distinctive Canadian identity that resonates with customers here and around the world. This transaction brings together Marquee Brands’ global brand-building platform and JM&A’s operational leadership to position Roots for its next chapter of growth.”

According to its website, Roots currently has 108 stores in Canada and two in the U.S. (in Birmingham, Mich., and Park City, Utah).