Overview
- Roots agreed to a C$4.10-per-share cash buyout in a deal announced Thursday that would take the company private and pay about a 36 percent premium to its March 2 closing price.
- Under the transaction structure, JM&A Design and Development Inc., led by Joseph Mimran and Frank Rocchetti, will acquire outstanding shares and run Roots’ design, manufacturing, retail and e-commerce operations in Canada and the U.S.
- The deal has the backing of major shareholders representing roughly 69 percent of voting interest but still requires court and regulatory approvals, a shareholder vote expected in October, and a targeted close in the fourth quarter of 2026.
- Marquee says it plans to use its global licensing and distribution network to expand Roots into new markets such as Korea, India and Mexico and to grow categories like footwear, home and camping products.
- Roots is a decades-old Canadian brand with more than 100 corporate stores in Canada, about two U.S. stores and roughly 100 partner-run shops in Asia, and the sale follows a strategic review launched in March after the company reported recent near-term losses.