Roots has completed its transition to private ownership after Marquee Brands, through its strategic operating partner JM&A Design & Development Inc., acquired all outstanding shares of the Canadian lifestyle company.
The transaction closed on October 26, 2026, with shareholders receiving C$4.10 in cash for each share.
The company also announced that Meghan Roach had stepped down as president and chief executive officer following the closing.
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Roots transaction closes at C$4.10 per share
Roots said the purchaser acquired 39,197,166 shares, representing 100 per cent of the company’s issued and outstanding shares immediately before completion.
The total consideration delivered under the arrangement was C$160,708,380.60, according to the company’s closing announcement.
The purchaser and Roots then amalgamated under the Canada Business Corporations Act and continued as one corporation under the name Roots Corporation.
The company said its shares are expected to be delisted from the Toronto Stock Exchange shortly.
Roots also intends to apply to cease being a reporting issuer in every Canadian province and territory.
That change will end Roots’ status as a publicly traded company and remove its requirement to continue regular public-market reporting once the applicable process is completed.
Meghan Roach leaves CEO role after six years
Roach stepped down after serving as Roots’ president and CEO since 2020.
She first joined the company as interim chief financial officer in 2019.
Roots said Roach will remain involved in an advisory capacity to support the leadership transition.
In a statement released by the company, Roach described the closing as the appropriate time to step aside and said she had confidence in the team’s ability to continue the brand’s work.
The company’s former board chair, Erol Uzumeri, credited Roach with guiding Roots through a significant period of change and helping deliver the transaction’s outcome.
What the new ownership means for Roots
Marquee Brands and JM&A first announced the proposed acquisition on August 20, 2026, after Roots began a strategic review earlier in the year.
The arrangement was structured around a partnership between Marquee Brands, which focuses on global brand management and expansion, and JM&A, led by Canadian retail executives Joseph Mimran and Frank Rocchetti.
JM&A was expected to oversee Roots’ design, product development, manufacturing, distribution, retail and e-commerce operations in Canada and the United States.
Marquee Brands was set to support international growth and the development of additional product categories.
The companies said at the time that Roots would continue to operate from Canada, with its headquarters remaining in Toronto.
The brand’s Canadian identity was also presented as a central part of the ownership plan.
Roots operates more than 100 corporate locations in Canada, two stores in the United States and an international e-commerce business.
It also has more than 100 partner-operated stores in Asia and a Roots-branded storefront on Tmall in China.
Deal followed shareholder and court approvals
The acquisition required shareholder approval, Competition Act clearance and approval from the Ontario Superior Court of Justice’s Commercial List.
Roots received the court’s final order on October 15, 2026.
The company said that order was the final substantive court approval required before closing, subject to the remaining customary conditions.
The completed transaction marks the final stage of the process that began with Roots’ March 2026 announcement of a strategic review of alternatives for the business.
What customers can expect next
The closing announcement did not identify immediate store closures or changes to Roots’ customer-facing operations.
For shoppers, the company continues to sell apparel, leather goods, footwear and accessories through its stores, website, wholesale channels and licensing partners.
The longer-term direction of the privately held company will depend on decisions by Marquee Brands and JM&A regarding product development, retail investment, international expansion and the structure of the store network.
With the transaction complete, Roots is no longer operating under the same public-company ownership model that governed the brand since its shares began trading on the Toronto Stock Exchange.
Frequently Asked Questions
Did Roots go private?
Yes. Marquee Brands, through JM&A Design & Development Inc., completed the acquisition of all outstanding Roots shares on October 26, 2026.
How much did Roots shareholders receive?
Shareholders received C$4.10 in cash for each Roots share.
Is Meghan Roach still the CEO of Roots?
No. Roach stepped down as president and CEO after the transaction closed, but will continue helping the company in an advisory role.
Will Roots stores remain open in Canada?
The closing announcement did not announce immediate store closures. Roots continues to operate its Canadian retail and online business under the new ownership.
Will Roots remain listed on the TSX?
Roots said its shares are expected to be delisted from the Toronto Stock Exchange and that it intends to apply to cease being a reporting issuer across Canada.
Fact-Checked: Key transaction, payment, ownership and leadership details were checked against Roots Corporation’s official closing announcement and related court-approval release.
Disclaimer: Future changes to Roots’ stores, products, leadership or international operations will depend on decisions by its new private owners.