Business · Companies · 1 hr ago
Roots shareholders approve deal to take retailer private
Roots shareholders approved a deal to take the retailer private through a transaction led by New York-based Marquee Brands.
The Canadian apparel company announced the proposed deal in August.
Shareholders will receive $4.10 per share under the agreement.
Marquee Brands plans to use Joe Mimran’s company to develop, make and distribute Roots clothing in Canadian and U.S. stores.
The deal would shift Roots from public ownership to private ownership.
Marquee plans to expand Roots into other markets, including South Korea, India and Mexico.
The transaction still needs court and regulatory approval and is expected to close in the fourth quarter of 2026.
Roots shareholders approved a deal for the retailer to go private, but the company did not immediately disclose the level of support.
The transaction is led by New York brand management firm Marquee Brands.
Under the deal, Roots shareholders will receive $4.10 per share.
Marquee plans to use JM&A Design and Development Inc. to develop, manufacture and distribute Roots clothing for Canadian and U.S. stores.
The deal remains subject to court and regulatory approvals and is expected to close in the fourth quarter of 2026.
- Who
- Roots shareholders approved the deal, which is led by Marquee Brands.
- What
- Roots is to be taken private in a transaction that will pay shareholders $4.10 per share.
- When
- Shareholders approved the deal on October 13, 2026. It is expected to close in the fourth quarter of 2026.
- Where
- Roots stores in Canada and the United States are covered by the clothing development, manufacturing and distribution plans.
- Why
- Not stated
This story does not have two clearly opposing sides.
Roots announced a deal to be taken private by Marquee Brands.
Roots shareholders voted in favour of the transaction.
The transaction is expected to close, subject to court and regulatory approvals.
- Shareholder payment
- $4.10 per share
- Buyer
- Marquee Brands
- Clothing partner
- JM&A Design and Development Inc.
- Planned store markets
- Canada and the United States
- Expected closing
- Fourth quarter of 2026
Sources
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