Thursday, October 16, 2014

Bain Capital Buys Canada Goose

If that ain't the goose that laid the golden egg! Bain Capital now owns Canada Goose. Bain Capital is an Israeli Mossad controlled company. Why is the Mossad in the feathered coat business? I would imagine the coats are all bugged with nanotechnology surveillance equipment. These coats are shipped all over the world and these coats will gather a lot of intelligence, especially in Russia and China. This is one product I will never buy. Funny, but our newly appointed Finance Minister Joe Oliver is Jewish, and my local MP.

Canada Goose unveils new Toronto factory

Parka maker’s new global headquarters doubles its production capacity.

Canada Goose chief executive officer Dani Reiss is always prepared for winter — but not necessarily for a flood.

A burst pipe last April in the front offices of the trendy parka manufacturer’s new factory on Bowie Ave., near Eglinton Ave. W. and Caledonia Rd., delayed the planned official opening until Wednesday, he explained.

Construction on the much larger, 90,000 square-foot factory — which doubles the brand’s previous production capacity from the old site nearby — started in early 2013, and Reiss’ army of garment cutters and sewers moved in earlier this year.

The factory and the popular jackets were fortunately not affected by the water pipe problem, but the front office required months of repairs to get it ready for the public launch, he noted.

“It was a big move for us,” Reiss told reporters as he unveiled the splashy (and dry) Canada Goose showroom and manufacturing centre to reporters.

The company recently hired an additional 200 employees for both the Toronto location and the recent expansion at its Winnipeg production facility.

Reiss said competitors never thought Canada Goose would last because of its insistence on keeping production in Canada since his grandfather founded the company in a small Toronto warehouse in 1957.

Over the last decade, the winter gear maker has increased revenues by 4,000 per cent and sells in 50 countries around the globe.

“It’s a proud Canadian success story with a strong future ahead of it,” said federal finance minister Joe Oliver at the ribbon-cutting ceremony on the shop floor, where workers cheered the launch. The new global headquarters is located in his federal riding of Eglinton-Lawrence.

However, the historic firm is no longer in Canadian hands. Private equity firm Bain Capital bought a majority stake in Canada Goose for an undisclosed sum last December.

“It’s enabled us to continue on our very aggressive growth path,” Reiss noted.

Bain has previously invested in a number of Canadian companies in their early stages, including Shoppers Drug Mart, Bombardier Recreational Products and BTI Systems.

Canada Goose will expand its new Toronto headquarters by another 20,000 square feet by May, 2015.


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