Roots goes private and CEO Meghan Roach steps down

Roots, founded in 1973, is going private. BNN Bloomberg reported that chief executive Meghan Roach has stepped down as Roots’ go-private deal closed.

Money.ca reported that going private means Roots will no longer trade publicly on an exchange. Canadian Lawyer reported that shareholders get $4.10 in cash a share, a 36% premium to the March 2, 2026 closing price.

Money.ca reported that Marquee Brands, a New York brand-management company, provides the capital, and JM&A, led by Joe Mimran and Frank Rocchetti, runs the business.

A Fraser Institute study found that listings on the TSX and TSXV fell from 3,141 in 2010 to 2,114 in 2024, down a third. It found private equity assets under management in Canada grew from US$21.7 billion in 2010 to more than US$93.1 billion in 2024.

Money.ca reported that design, sourcing and merchandising will stay in Toronto. BNN Bloomberg reported that Roots expects delisting from the TSX shortly; no date is given.

Sources: Canadian Lawyer · BNN Bloomberg · Money.ca · Canada NewsWire