Marquee Brands acquires Roots Canada

Marquee Brands, a U.S. brand management company owned by Neuberger Berman, agreed to acquire Canadian heritage outdoor and lifestyle brand Roots Corporation for C$4.10 per share in cash, valuing the deal at approximately C$160.7 million. The price represents a 36% premium to Roots' closing price on March 2, the last trading day before Roots announced a strategic review. The transaction will be executed through Marquee's operating partner, JM&A Design and Development Inc., led by Canadian retail veterans Joseph Mimran and Frank Rocchetti. JM&A will oversee design, development, manufacturing, distribution, and retail and e-commerce operations across Canada and the U.S., including Roots' more than 100 North American stores. Marquee Brands will focus on global brand stewardship and expansion. Roots will remain headquartered in Toronto and continue to be operated by Canadian leadership. The Roots board unanimously recommends the deal, and shareholders representing approximately 69% of voting interest, including Searchlight Capital and Kernwood Limited, have agreed to vote in favor. The transaction is subject to shareholder and court approvals, with a special meeting expected in October 2026 and closing targeted for Q4 2026. Upon completion, Roots' shares will be delisted from the Toronto Stock Exchange.