Duo behind iconic clothing brand take Roots public
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.