Searchlight's Roots seeks to raise $200 mln from IPO: Reuters
Canadian apparel company Roots Corp has set a price range of $14 to $16 per share for its planned Toronto initial public offering, seeking to raise about $200 million, according to a term sheet of the deal seen by Reuters. Roots, known for its trademark beaver logo, rustic casual wear and Canadian-made leather goods, is expected to price the IPO in the week of October 16. But investors hoping for Roots to score another high-flying IPO debut like its bigger counterpart Canada Goose Holdings Inc may be in for a disappointment, given the company's more modest growth and broader retail challenges. Roots is a portfolio company of U.S. private equity firm Searchlight Capital Partners, which acquired a controlling stake in 2015.
2 October 2017•2 mins read
