Eurazeo Brands, the consumer brands division of Global investment company Eurazeo, has announced the acquisition of a minority stake in Herschel Supply, the Canadian lifestyle brand best known for the Little America backpack.
Herschel Supply has received a capital injection of 60 million US dollars in an investment round which also included Alliance Consumer Growth (ACG), a consumer-focused growth equity firm, and HOOPP Capital Partners, the private capital arm of the Healthcare of Ontario Pension Plan.
"Herschel has established a strong, authentic brand that has enabled them to design, market, and sell timeless and high-quality accessories, addressing the needs of today's modern, multi-tasking consumer,” said Adrianne Shapira, Managing Director of Eurazeo, in a statement. "Herschel reimagined the backpack and in doing so changed the category forever, but that was just the beginning. We are thrilled to partner with Herschel management, ACG and HOOPP to leverage the company's powerful customer engagement and accelerate growth across categories, channels and geographies."
"We are delighted to add Herschel to Eurazeo Brands' portfolio of differentiated consumer and retail brands with global growth potential, including NEST Fragrances, Pat McGrath Labs, Bandier, and Q Mixers,” added Jill Granoff, CEO of Eurazeo Brands. “This is our first investment in a Canadian brand and we are confident that the company will achieve continued success."
Founded 10 years ago by brothers Lyndon and Jamie Cormack, Herschel Supply is currently present in 90 countries, mostly through wholesale: 9,000 of its 10,000 retail points are wholesalers. Last year, the company started investing in wholly-owned stores with the opening of a flagship in its hometown, Vancouver.
Image: Herschel Supply Facebook
* This article was originally published here
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