Taking the battle to the boardroom, PETA plans to buy shares in the IPO of upscale apparel-maker Canada Goose Inc. in order to have a shareholder voice in what the activist group calls the company's mistreatment of animals.
Canada Goose filed an amended IPO last Friday expected to raise $200–$300 million and value the company at $2 billion. The shares are to be listed on the New York Stock Exchange.
PETA said in a news release Tuesday it plans to buy the minimum amount of shares necessary to give PETA the right to attend and speak at annual meetings, and to offer resolutions for the company to stop using coyote pelts for its pricey jackets, some of which retail for nearly $1,000.
See Also: Driven By Its Use Of Coyote Fur, Canada Goose Faces Animal Cruelty Allegations Ahead Of IPO
The animal rights group's last November staged demonstrations at the grand opening of the Toronto-based company's first-ever brick-and-mortar store.
Canada Goose touts it cold-weather wear as preferred fashion of celebrities, explorers and fashion followers.
Canada Goose was founded in 1957 by Polish immigrant Sam Tick. The company began operations by selling high-quality woolen coats and outerwear. In 1985, Tick's son-in-law, David Reis, acquired a majority stake in the company. In 2001, Dani Reiss, the founder's grandson-in-law, assumed the position of President and CEO.
Private equity firm Bain Capital acquired a majority share of the company in 2013.
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