Economy · 19 d ago
Roots Corp. · CC BY-SA 4.0 · Wikimedia Commons
A judge approves the deal to take Roots private
What we know
- Shareholders approved the deal
- Competition commissioner won't contest it
Not yet
- The remaining closing conditions
An Ontario Superior Court judge approved the deal led by New York brand management firm Marquee Brands on Thursday. It is expected to close this month, subject to closing conditions that were not specified.
Paid to Roots shareholders
4.10 $ per share
Roots shareholders will receive $4.10 per share under the deal announced in August.
Club Monaco founder Joe Mimran, through his company JM&A Design and Development, will then make and distribute Roots clothing for stores in Canada and the US.
New markets planned for Roots
- Korea
- India
- Mexico
Marquee Brands, whose labels include Martha Stewart, Laura Ashley and Roberto Cavalli, wants to take Roots to Korea, India and Mexico.
