Early Days

Duo behind iconic clothing brand take Roots public


Published:

L–R: Michael Budman and Don Green at the original Roots store in Rosedale.

When it comes to leather goods, sweats and an iconic beaver logo, Roots is the market leader. The company was started in Toronto in 1973 by Forest Hill’s Michael Budman and Rosedaler Don Green, with its first store in Rosedale. Now, Roots is going public so we can all own a piece of this iconic Canadian brand. An IPO (initial public offer) was filed on Sept. 13, and $200 million was raised in its initial share sale. The company’s shares will be sold at about $12 when it hits the Toronto Stock Exchange. The retailer operates 116 stores in Canada, four in the United States and has 136 locations in Asia that are operated by a partner company. Proceeds from the share sale will go to Budman and Green as well as their private equity backer Searchlight Capital Partners. 

Edit Module

Join the conversation and have your say by commenting below. Our comment system uses a Facebook plugin. Please note that you'll have to turn off some ad-blockers in order to see the comments.

Edit Module

Follow us on Twitter @PostCity for more on what to eat, where to shop and what to do in Toronto.

Edit ModuleShow Tags

You may also like...

Will cannabis legalization be an issue for homebuyers?

Will cannabis legalization be an issue for homebuyers?

As the era of legal marijuana draws near, Ontario real estate professionals are demanding the government do something to protect homeowners from a possible boom in grow-ops that could damage the province’s housing stock.
Posted 2 weeks ago
Paris girl fashion

Paris girl fashion

Posted 2 weeks ago
Home of the Week: A modern-day castle in Midtown for $22.99 mil

Home of the Week: A modern-day castle in Midtown for $22.99 mil

Posted 2 weeks ago
11 Davisville Village & Leaside business owners share their secrets to success and love for the neighbourhood.

11 Davisville Village & Leaside business owners share their secrets to success and love for the neighbourhood.

Posted 2 weeks ago
Edit ModuleShow Tags
Edit ModuleEdit Module