Torkin Manes, Stikemans, and McCarthys Advise on Bain Capital Acquisition of Parka Maker Canada Goose

Nearly two weeks after the Canadian Marketing Association named Canada Goose President and CEO Dani Reiss Canada’s 2013 Marketer of the Year, the iconic parka maker was sold earlier this week to US private equity firm Bain Capital for an undisclosed amount.

Largely considered a first-line of defense against winter chills in Canada, the Canada Goose brand, with its iconic red patch, has made the rounds to other cold markets around the world, including the US and many parts of Europe.

Its popularity is undeniable: if not already evident in the number of people who don the jackets in our coldest months, then evident in the fact that the company was forced, two years ago, to sue counterfeiters, who wanted to take some of that parka market share; Canada Goose won.

As expected, Canadian law firms were involved on either side of the deal.

Bain Capital, LLC was represented in Canada by Peter Castiel, Warren Silversmith and Barbara Sheng (M&A); Frank Mathieu and Éric Lévesque (tax); Marie Garneau, Howard Rosenoff and Shane Litvack (banking); Stephanie Wechsler, Kelly O’Ferrall and Michèle Robichaud (employment and labor); Luc Vaillancourt (pensions and benefits), Jonathan Auerbach (intellectual property), Richard Rusk (environment) and Paul Collins and Marisa Muchnik (competition) of Stikeman Elliott LLP.

In the US, Bain Capital was represented by William Shields, Christopher Leich, Michael Sartor, Adam Greenwood, Brian Elworthy and Elizabeth Rahn of Ropes & Gray LLP; in Luxembourg by Joost Van Den Berg and Philippe Chenu of Loyens & Loeff Luxembourg S.à r.l.; and in the Cayman Islands by Sheryl Dean from Maples and Calder.

Canada Goose was represented by Jeffrey Cohen, Glen Eddie, Chaim Sapirman and Violet French (corporate/M&A); S. Fay Sulley (corporate/banking), Catherine Nicholson (tax), Sammy Redlick (corporate), Rajeev Sharma (competition) and Tom Stefanik (labour and employment) of Torkin Manes LLP; and in Sweden by Björn Welinder and Maria Stakovska (corporate) of Lindmark Welinder.

CIBC was represented in Canada by Joel Scoler, Justin Lapedus and Lama Sabbagh of McCarthy Tétrault LLP; and in the US by Greg Klamrzynski and Cari Grieb of Chapman and Cutler LLP.

While the value of the deal remains undisclosed, Bain Capital has a history of making big deals made up of earth-moving sums of money.

In 2006, Bain was part of a private equity consortium that purchased the Hospital Corporation of America for $33 billion  with leverage, of course. That deal is considered the largest the private equity firm has been involved in, which retained some of the most high profile American law firms. In 2008, Bain merged with Clear Channel Communications Inc. for a total value of approximately $25 billion. That was its second largest deal.

Ahmad Hathout

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