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BMO to Acquire Burgundy Asset Management for $625 Million

6/21/2025

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Summary

Story summary

BMO is set to acquire Burgundy Asset Management for $625 million in shares, including a $125 million holdback based on asset retention.
Based in Toronto, Burgundy manages $27 billion in assets and will join BMO Wealth Management after the acquisition.
The transaction awaits regulatory approval and is anticipated to finalize by the end of 2025.
Burgundy's CEO Robert Sankey and co-founders will continue their roles post-acquisition.

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Story summary

BMO is set to acquire Burgundy Asset Management for $625 million in shares, including a $125 million holdback based on asset retention.
Based in Toronto, Burgundy manages $27 billion in assets and will join BMO Wealth Management after the acquisition.
The transaction awaits regulatory approval and is anticipated to finalize by the end of 2025.
Burgundy's CEO Robert Sankey and co-founders will continue their roles post-acquisition.