Roots is getting a new owner, but the Canadian icon is staying Canadian.

Marquee Brands has agreed to acquire Roots for C$4.10 per share in cash, valuing the deal at a 36% premium to the company’s March 2 closing price.

The transaction will take Roots private and bring the 53-year-old brand into Marquee’s growing portfolio, which includes Roberto Cavalli, Laura Ashley and BCBG.

But the bigger story is who will run it.

Marquee is partnering with Canadian retail veterans Joseph Mimran and Frank Rocchetti of JM&A Design and Development, who will oversee Roots’ Canadian operations, including its 100-plus stores and e-commerce business.

Mimran, whose résumé includes Joe Fresh, Club Monaco and Kit & Ace, will help steer Roots into its next phase while keeping its Canadian identity at the centre.

For Marquee CEO Heath Golden, the opportunity goes beyond apparel. The company sees room to grow Roots into footwear, camping, experiences and other categories while taking the brand further into international markets.