Shares of Canada Goose Holdings (NYSE:GOOS) surged 16% on Wednesday after a CNBC report indicated that the luxury outerwear company has received bids to go private, with a valuation near $1.35 billion.
Sources familiar with the matter said Bain Capital, Canada Goose’s controlling shareholder, is exploring a sale of its stake and has received proposals from multiple potential buyers. Goldman Sachs is reportedly advising on the transaction process.
Private equity firms Boyu Capital and Advent International have submitted verbal offers valuing Canada Goose at approximately eight times its 12-month average EBITDA, equating to roughly $1.35 billion. Additional interested parties include Bosideng International, a Shanghai-based down jacket manufacturer, and a consortium formed by FountainVest Capital and Anta Sports Products.
The prospective buyers aim to delist the company from both the Toronto and New York stock exchanges. Analysts note that taking the company private could give management greater flexibility to restructure the business without the transparency requirements imposed by public markets.
Bain Capital currently holds around 60.5% of Canada Goose’s multiple voting shares and controls 55.5% of total voting power. The firm is reportedly awaiting additional offers before making a final decision.
Canada Goose Holdings stock price
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