Marquee, a U.S. brand management company, partnered with Toronto-based JM&A Design and Development to acquire the retailer—known for its hoodies and other Canadiana apparel—for 4.10 cents a share. The offer is a 36 per cent premium on Roots’ closing share price on March 2, the last trading day before the company announced a strategic review, and is valued at about $160 million, based on the number of outstanding shares. (The Logic)

Talking point: JM&A will oversee the design, manufacturing and distribution of Roots merchandise, along with its North American stores and e-commerce operations. The firm is led by Joe Mimran, founder of Club Monaco and Joe Fresh, and retail executive Frank Rocchetti. Marquee, whose brand portfolio includes Martha Stewart and Laura Ashley, will manage the brand globally and pursue expansion into new markets and product categories. The firm’s CEO said it hopes to expand into new markets, such as Korea, India and Mexico, and grow its presence in the U.S. and China. The deal would end the retailer’s nine-year run as a public company. Searchlight Capital Partners, which took Roots public at $12 per share and owns about 52 per cent of the company, has agreed to back the sale.

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