Canada Goose rises 8% in premarket trading after controlling shareholder gets take-private bids

New York-listed shares of

Boyu Capital and Advent International have made verbal offers, valuing Canada Goose at eight times its 12-month average earnings before interest, taxes, depreciation and amortization, translating into a valuation of around $1.35 billion, the people said.

Bain Capital is holding off on a decision until more offers roll in, the sources said, adding that once a buyer is selected, due diligence is expected to take less than two months before the deal is signed.

The premarket share price rise will give Canada Goose a valuation of $1.29 billion, up from $1.1 billion ahead of CNBC’s reporting. Canada Goose’s New York-listed shares have gained over 21% so far this year.

Though still a far cry from its 2018 peak of $7.7 billion, a year after it went public, the company’s current valuation represents outsized returns for Bain from the reported $250 million level when it took control in 2013.