Canada Goose Stock Is Soaring. Here’s Why.

Controlling shareholder Bain Capital has received bids to take the retailer private, said a report. (Matt Winkelmeyer/Getty Images for Canada Goos)

Canada Goose stock was soaring Wednesday after the outerwear retailer’s controlling shareholder received bids to take the company private, according to a report.

Bain Capital, which together with Canada Goose CEO Dani Reiss controls around 92% of voting power in the company, has drawn offers that value the Toronto-based retailer at around $1.35 billion, CNBC reported.

Bain declined to comment on the report. Canada Goose didn’t respond to Barron’s requests for comment.

New York-listed shares were climbing 14% to $13.84. The company had a market capitalization of $1.18 billion as of Tuesday’s close.

Canada Goose rose 3.2% on Tuesday after analysts at Baird upgraded the stock to Outperform from Neutral.

Write to Nate Wolf at nate.wolf@barrons.com