Canada Goose is going after the public markets

Winter jacket maker Canada Goose filed February 15th for initial public offerings on the Toronto and New York stock exchanges under the symbol “GOOS.”

The company said in regulatory filings it had revenue of $291 million in fiscal 2016, up from $152 million in 2014, and gross profit of $146 million.

The company, founded in Toronto in 1957, touted its “authentic brand” and “uncompromised craftsmanship” as some of its key competitive strengths in its filing.

Canada Goose sold a 70-per-cent equity interest in 2013 to investment firm Bain Capital, which is sponsoring the IPO.

It noted in the filing that it’s vulnerable to shifting consumer preferences because its business “is highly concentrated on a single, discretionary product category, premium outerwear.” Canada Goose is profitable, but loaded with debt. The company’ made a $27 million profit in 2016, on revenue of $291 million. It has $278 million of debt.

Private equity firm Bain Capital, which took a 70% equity stake in the company in 2013, will continue to exercise control of the company after the offering.

Goldman Sachs, Credit Suisse, RBC Capital Markets and CIBC Capital Markets are lead underwriters on the deal.

Read the related releases here;

http://www.forbes.com/sites/laurengensler/2017/02/15/canada-goose-files-for-ipo/#496a8642125d

http://www.cnbc.com/2017/02/16/here-are-7-things-we-learned-about-canada-goose-from-its-ipo-filing.html

Read the prior release here;

https://csga.ca/canada-goose-inc-said-file-confidentially-dual-listed-ipo-new-york-toronto/