Canada Goose sells majority stake to Bain Capital

The factory of Canada Goose Inc. in Toronto on Thursday November 28, 2013. (Aaron Vincent Elkaim / THE CANADIAN PRESS)

TORONTO -- Canada Goose, one of the world's leading makers of extreme weather outerwear, is selling a majority stake in the company to private investment firm Bain Capital.

Financial terms of the deal were not disclosed by Canada Goose, which said it was making the move in order to accelerate global growth.

Under the deal, Dani Reiss will remain the company's president and chief executive and continue to own "a significant minority stake," Canada Goose said in a news release Tuesday.

"With this investment, we're able to amplify what has driven our success for the last 15-plus years: delivering the best and warmest jackets to the rest of the world, all proudly made in Canada," Reiss said.

"Bain Capital has a long and impressive track record of successfully investing in beloved Canadian companies and we are thrilled to bring them on board," he added. "They're the right partner with the right resources and people to help us reach our potential."

Starting out in a small warehouse in Toronto more than 55 years ago, Canada Goose now employs more than 1,000 people and its apparel is sold in more than 50 countries.

Boston-based Bain Capital LLC is a global private investment firm with approximately $70 billion in assets under management.