Suitors are circling high flying Canada Goose. (Photo by Costfoto/NurPhoto via Getty Images)
NurPhoto via Getty Images
Private equity giant Bain Capital has received an offer of around $1.4 billion for specialist outdoor wear retailer Canada Goose according to a report from CNBC.
The winter-clothing maker’s controlling shareholder has been looking to offload its holding in Canada Goose and the offers aim to take the dual New York/Toronto-listed company private, according to CNBC’s sources.
Boyu Capital and Advent International have made verbal offers, valuing Canada Goose at eight times its 12-month average earnings before interest, taxes, depreciation and amortization, translating into a valuation of around $1.35 billion.
Other interested parties reportedly include China’s Bosideng International, as well as a consortium formed by Hong Kong-listed Anta Sports Products and FountainVest Capital.
The news saw Canada Goose shares in New York spike at around 7% up before moderating in pre-market trading to nearer 3%, upping its market capitalization but still short of the reported bid valuations.
Bain Capital is understood to be holding off on a final decision on the successful bidder until it sees whether more offers will come in, with due diligence expected to take less than two months before the deal is inked.
Canada Goose Mixed Financials
The bids come at a difficult time for Canada Goose, transformed by CEO Dani Reiss, which despite strong sales posted a larger-than-expected quarterly loss in the three month trading period to June 29 amid rising costs from retail expansion and promotional campaigns. While the company withheld its fiscal 2026 forecast citing tariff uncertainty, it has benefited from exemptions under the U.S.-Mexico-Canada trade pact.
Total revenues were up over a fifth to $107.8 million and gross profits by over a quarter to $66.2 million, but those higher costs meant that operating losses increased to $158.7 million, significantly above the $96.9 million loss in the year prior period.
Known for winter apparel, Canada Goose has been extending its seasonality with new merchandise launches. Photographer: Christinne Muschi/Bloomberg
© 2018 Bloomberg Finance LP
The company ended the first quarter of fiscal 2026 with net debt of $541.7 million, compared with $765.9 million at the end of the first quarter of fiscal 2025. This reduction in debt was mainly due to higher cash balances and lower borrowings from its credit facilities compared to the previous year, Canada Goose said.
The company has also been attempting to lengthen its selling season by retailing sell more sweaters, sunglasses and footwear, a move aimed at broadening the winter-wear icon into an all-season brand and to keep customers spending between the cold weather seasons.
Canada Goose Goes Year Round
As part of that initiative, the company recently launched its second Snow Goose capsule with a summer campaign set in the deserts of Utah. The expedition featured celebrity guests and other influencers, including its star campaigner Lara Stone.
“We’re off to a strong start, brand heat is rising, and our DTC performance is delivering,” said Dani Reiss, Chairman & CEO of Canada Goose said of the latest trading figures. “We’re executing with precision, from bold storytelling to smarter retail moves, and it’s showing up in results. I’m optimistic about the momentum we continue to see as we deliver more relevant product and run a tighter, more focused business.”
Though still a far cry from its 2018 peak of $7.7 billion, a year after it went public, the company’s current valuation represents outsized returns for Bain from the reported $250 million level when it took control in 2013.
Source: https://www.forbes.com/sites/markfaithfull/2025/08/27/bain-capital-waits-on-more-bidders-in-14-billion-canada-goose-sale/
