Who Owns Roots?

Roots was founded in 1973 by Michael Budman and Don Green in Toronto, Ontario. Budman and Green met at Camp Tamakwa, a summer camp in Algonquin Park, Ontario, where they developed a love for the Canadian outdoors. The camp experience, with its emphasis on nature, craftsmanship, and community, became the foundation of the Roots brand identity. The name "Roots" was chosen to reflect their connection to the Canadian wilderness and the idea of being rooted in nature.

The first Roots store opened in 1973 on Yonge Street in Toronto, selling handmade leather shoes, bags, and belts. The founders focused on quality craftsmanship and natural materials, sourcing leather from Canadian tanneries. The Toronto Leather Factory, located on Caledonia Road, became the brand's manufacturing heart and continues to produce leather goods today, turning out approximately 8,000 leather goods per month.

In the 1980s and 1990s, Roots expanded beyond leather goods into apparel, introducing the salt and pepper sweatpants and sweatshirts that became the brand's most recognizable products. The salt and pepper fleece, with its distinctive heathered gray and white pattern, became a Canadian cultural icon, worn by celebrities, athletes, and ordinary Canadians alike. Roots also introduced the "Beaver" logo, which appears on hoodies, sweatpants, and t-shirts and has become one of the most recognized brand logos in Canada.

Roots dressed the Canadian Olympic team for the 1998 Winter Olympics in Nagano, Japan, launching the brand to international recognition. The Olympic partnership continued through several subsequent Games, with Roots producing the iconic red and white team uniforms that became sought-after consumer products. The Olympic exposure established Roots as a globally recognized Canadian brand and opened doors for international expansion.

The brand expanded internationally in the 2000s and 2010s, particularly into Asia. Roots opened partner stores in China, South Korea, and Taiwan, reaching 100+ partner stores in Asia. The brand also launched on Tmall, the Chinese e-commerce platform, to reach Chinese consumers directly. In the United States, Roots opened 2 corporate stores and built an e-commerce business.

Roots went public on the Toronto Stock Exchange in 2017 under ticker ROOT, raising capital to fund growth. The IPO valued the company at approximately C$250 million. Searchlight Capital Partners, which had acquired a controlling stake in Roots in 2015, retained a significant shareholding after the IPO.

Through the 2020s, Roots faced challenges common to mid-size apparel retailers, including competition from fast fashion, e-commerce disruption, and the COVID-19 pandemic. The brand maintained its Canadian manufacturing base at the Toronto Leather Factory and emphasized its heritage and craftsmanship positioning. In April 2026, Roots continued its partnership with the Nature Conservancy of Canada, launching limited-edition Earth Month t-shirts using recycled cotton. In July 2026, the brand opened a "Route 73" pop-up at The Well in Toronto, celebrating the Pit Stops Summer '26 collection.

On August 20, 2026, Marquee Brands announced the definitive agreement to acquire Roots for C$4.10 per share, taking the company private after nine years on the Toronto Stock Exchange. The acquisition represents a 36% premium to the March 2, 2026 closing price and values the company at approximately C$160.7 million.