According to the CBC, Roots Canada has sold a majority stake of their fashion company to private investment firm Searchlight Capital Partner.

Roots was co-founded by Michael Budman and Don Green, and they have recently stated the reason for seceding control of the company is to “support the brand’s next phase of growth”

While no one exactly knows the financial details of the sell-off, the reported move is gain strategic operation support and to take Roots to a larger international level.

What does this mean for you?

Not much, actually. If you are a big roots fan, the company states that it will keep Roots’ Canadian headquarters, Canadian brand identity and Canadian factory. The company that now owns a majority stake in Roots – Searchlight has immense experience with heritage brands and will retail the original quality that roots fans have come to love.

Source: CBC NEWS