Possible new Roots owner threads plan for global growth

New York brand management firm Marquee Brands has acquired Roots Corp. for $4.10 per share in cash, a deal that still needs shareholder and regulatory approval. The Canadian brand, which has more than 100 stores in its home country and just two in the U.S., aims to expand globally under Marquee's leadership. CEO Heath Golden envisions bringing Roots to markets like Korea, India, and Mexico, as well as further expanding its presence in the U.S. and China.

Marquee's CEO, Heath Golden, has partnered with JM&A Design and Development Inc., a fashion powerhouse led by Joseph Mimran, known for brands such as Joe Fresh, Club Monaco, and Tilley Endurables. Mimran expressed confidence in his ability to steward the brand and tailor it to a global audience, emphasizing the emotional connection the brand holds for Canadians.

Roots' current CEO, Meghan Roach, remains at the helm, signaling that significant changes are not anticipated. Roach joined Roots as interim CFO seven years ago and has been at the helm since a private equity firm bought a majority stake in the retailer in 2015.