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The Weekly Closeout: The RealReal secures fresh financing, Roots buyout advances

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The Weekly Closeout: The RealReal secures fresh financing, Roots buyout advances

The resale marketplace refinanced to help strengthen its balance sheet, while the apparel brand’s shareholders approved its acquisition by Marquee Brands.

It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.

From Michaels’ Halloween plans to Purina’s chief snuggle officers, here’s our closeout for the week.

Roots Corporation obtained shareholder approval to be acquired by Marquee Brands, according to a Tuesday press release. Over 99% of shareholders voted for the deal, which will take Roots private.

Roots also said the company satisfied Canada’s Competition Act to implement the acquisition. The deal remains subject to some customary closing conditions. The company on Thursday received a final order by the Ontario Superior Court of Justice, and the deal is expected to close this month.

The deal was first announced in August. Marquee Brands, parent company to Sur La Table, Laura Ashley, BCBG, Roberto Cavalli and others, partnered with JM&A Design and Development to serve as the core operating partner of Roots.

Craft and hobby retailer Michaels is encouraging customers to get creative and make their own Halloween costumes this year.

The company is highlighting its online project tools to help make DIY costumes more approachable by offering step-by-step inspiration, instructions and supply lists that can be added directly to a customer’s cart.

Michaels highlighted that its Knit & Sew Shop now features 1,600 new products across various categories, including fabric, yarn and needlecraft.


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