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Investing.com -- Canada Goose Holdings (NYSE:GOOS) stock rose 16% Wednesday following a CNBC report that the luxury parka maker has received bids to take the company private at a valuation of approximately $1.35 billion.
According to sources familiar with the matter, Bain Capital, Canada Goose’s controlling shareholder, is looking to sell its stake in the company and has received offers from several potential buyers. Goldman Sachs is reportedly advising on the sale process.
Private equity firms Boyu Capital and Advent International have made verbal offers valuing Canada Goose at eight times its 12-month average EBITDA, which translates to about $1.35 billion. Other interested parties include Shanghai-based down jacket manufacturer Bosideng International and a consortium formed by FountainVest Capital and Anta Sports Product.
The potential buyers aim to delist the company from both the Toronto and New York stock exchanges. Industry observers note that going private would provide greater autonomy for turning around the business without the scrutiny that comes with regular financial disclosures to public markets.
Bain Capital, which currently owns approximately 60.5% of Canada Goose’s multiple voting shares and controls 55.5% of total voting power, is reportedly waiting for additional offers before making a decision.
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