Aritzia Completes $330 Million Secondary Offering of Subordinate Voting Shares and Concurrent Share Repurchase of $107 Million Subordinate Voting Shares and Multiple Voting Shares

March 8, 2019


VANCOUVER, March 8, 2019 /CNW/ - Aritzia Inc. ("Aritzia" or the "Company") (TSX:ATZ), a vertically integrated, innovative design house of fashion brands, announced today the successful closing of its secondary offering (the "Offering") of an aggregate of 19,505,000 subordinate voting shares of Aritzia at a price of $16.90 per subordinate voting share (the "Offering Price") for total gross proceeds of $329,634,500. Pursuant to the Offering, an investment vehicle managed by Berkshire Partners LLC, a Boston-based private equity firm (the "Berkshire Shareholder"), on its own behalf and certain charitable entities (the "Charitable Entities") having received donations by affiliates of the Berkshire Shareholder, sold a total of 19,005,000 subordinate voting shares. In addition, The Bensadoun Family Foundation, a charitable foundation controlled by Aldo Bensadoun, a director of Aritzia, sold a total of 500,000 subordinate voting shares. Aritzia did not receive any proceeds from the Offering.

The Company also announced today the successful closing of its purchase of 6,333,653 subordinate voting shares and multiple voting shares for cancellation from the Berkshire Shareholder and the Charitable Entities (the "Share Repurchase"). The purchase price paid by the Company under the Share Repurchase was the same as the Offering Price and resulted in the Berkshire Shareholder and Charitable Entities receiving aggregate gross proceeds of $107,038,736.

As a result of these transactions, the Berkshire Shareholder has no remaining equity interest in Aritzia.

The Offering was made through a syndicate of underwriters on a bought deal basis led by CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. (the "Underwriters").

No securities regulatory authority has either approved or disapproved of the contents of this news release. The subordinate voting shares have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the subordinate voting shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Aritzia in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Aritzia

Aritzia is a vertically integrated, innovative design house of fashion brands. The Company designs apparel and accessories for its collection of exclusive brands. The Company's expansive and diverse range of women's fashion apparel and accessories addresses a broad range of style preferences and lifestyle requirements. Aritzia is well known and deeply loved by its clients in Canada with growing client awareness and affinity in the United States and outside of North America. Aritzia aims to delight its clients through an aspirational shopping experience and exceptional client service that extends across its more than 90 retail boutiques and eCommerce business,

About Berkshire Partners

Berkshire Partners, a Boston-based investment firm, has made over 125 investments since its founding in 1986 through nine private equity funds with more than $16 billion in aggregate capital. Berkshire has developed industry experience in several areas including consumer and retail, communications, business services, industrials and healthcare. Berkshire has a long history of partnering with management teams to build market leading growth companies. Current and prior investments in the retail sector include Bare Escentuals, Carter's, Kendra Scott and Party City.

Forward-Looking Information

Certain information in this press release may constitute forward-looking information under applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Aritzia as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" sections of the Company's final prospectus for the Offering, annual information form dated May 10, 2018 for the fiscal year ended February 25, 2018 and the management's discussion and analysis of financial condition and results of operations for the 13- and 39-week periods ended November 25, 2018 and November 26, 2017 and for the fiscal year ended February 25, 2018, all of which can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at These factors are not intended to represent a complete list of the factors that could affect Aritzia; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and Aritzia expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Aritzia Inc.