Consumer Products Acquisitions in Massachusetts

Shenzhen PICEA Robotics Co., Ltd. and Santrum Hong Kong Co., Limited (collectively “Picea”) acquired 100% of iRobot Corporation's equity as part of a court‑supervised, pre‑packaged Chapter 11 process. iRobot emerges as a privately held, U.S.-headquartered consumer robotics company (Bedford, Massachusetts) and has established a separate U.S. subsidiary, iRobot Safe, to govern and protect U.S. consumer data.

Creative Brands, a subsidiary of CBC Group, has acquired The Gift Wrap Company, the oldest established gift wrap manufacturer in the United States (founded 1903). The acquisition broadens Creative Brands' product portfolio in seasonal and everyday giftware and will integrate The Gift Wrap Company's lines into Creative Brands' national distribution network while maintaining the brand's New England heritage.

Galaxy Universal, a Gainline Capital Partners portfolio company, has acquired Reebok's global product creation, sourcing and U.S. footwear operations and will lead Reebok's U.S. footwear wholesale, retail and e‑commerce channels. Galaxy and the Batra Group have also formed a joint venture, GB Brands Europe Limited, to oversee Reebok operations across Europe and the U.K.; Authentic Brands Group remains owner of Reebok's global IP.

New Era Cap, a portfolio company backed by ACON Investments, has agreed to acquire '47, the Boston-founded premium sports lifestyle and headwear brand. The combined company — with the two brands continuing to operate independently from Buffalo, New York and Westwood, Massachusetts — is expected to generate roughly $2 billion in annual revenue and will pursue expanded international distribution and licensing opportunities.

Tempus Partners, a consumer-focused private equity firm, has acquired a majority equity stake in Dawson-Forté Cashmere, the brand parent of KINROSS Cashmere and &Isla. Dawson-Forté’s management (including CEO Andy Bartmess and SVP Mary McCann) remain shareholders and will continue leading the business as Tempus supports expansion into more stores and channels; terms were not disclosed.

Shepherd Hardware, a subsidiary of Colson Group, has signed a definitive agreement to acquire Parker & Bailey, a long-established maker of specialty household cleaners and woodcare products. The acquisition will broaden Shepherd Hardware's product portfolio and leverage its distribution network to expand Parker & Bailey's market reach.

Authentic Brands Group has acquired the Sperry footwear brand in a transaction that closed January 10, 2024, with the ALDO Group joining as Sperry's North American operating partner. Wolverine World Wide sold the brand for proceeds of about $130 million to strengthen its balance sheet; Authentic will convert Sperry to a licensed model while ALDO will operate Sperry's wholesale, e-commerce and store operations in North America.

Conair LLC has acquired The Fulham Group, the exclusive maker and longtime licensee of Cuisinart outdoor products, in a transaction that closed August 31, 2023. The Fulham Group will be renamed Cuisinart Outdoors and its employees will be retained at the company's Newton, Massachusetts location as Conair integrates the business into its Cuisinart product portfolio.

Massachusetts Capital Resource Company (MCRC) announced a growth-stage investment in OOFOS, Inc., the active-recovery footwear designer and seller founded in 2011. The proceeds will fund continued sales growth for OOFOS' OOfoam recovery footwear and support the company's expansion in the consumer recovery/athletic footwear market.

Designer Brands Inc. has acquired Topo Athletic, a performance athletic and outdoor footwear brand headquartered in Framingham, Massachusetts. The deal brings Topo into Designer Brands' Owned Brands portfolio to expand its presence in the performance athletic, outdoor and athleisure categories; terms were not disclosed and Topo's founder Tony Post will remain as CEO of Topo reporting to Designer Brands' president.

Yellow Wood Partners formed a new sexual wellness platform, Beacon Wellness Brands, by acquiring several brands from Clio led by the PlusOne anchor brand. The acquired portfolio (including PlusOne, Deia, Plum Beauty, PalmPerfect and Mowbie) will be sold through mass and drug retail channels and e-commerce, and Beacon will be headquartered in Newton, Massachusetts with Clio founder Jamie Leventhal continuing to lead the platform.

L Catterton's Flagship Buyout Fund made a significant proprietary growth investment in Dragonfly, a technology-enabled platform that acquires and scales e-commerce brands. Inclusive of L Catterton's investment, Dragonfly has raised over $500 million of incremental equity and debt to fund future growth and M&A, enabling acceleration of its acquisition and brand-building strategy.

Crocs, Inc. entered into a definitive agreement to acquire privately‑owned casual footwear brand HEYDUDE for $2.5 billion in a deal funded with cash and stock. HEYDUDE — founded in Italy and operating as a fast‑growing consumer footwear brand — will operate as a standalone division with founder Alessandro Rosano remaining in a creative/strategic role.

Rise Capital Corp. announced a proposed reverse take-over (RTO) to acquire all issued and outstanding securities of MiniLuxe, Inc., with the resulting issuer to be renamed MiniLuxe Holding Corp. MiniLuxe FinCo completed a CDN$10 million subscription receipt private placement to support the transaction; upon closing MiniLuxe securityholders are expected to hold ~85% of the combined company's voting shares, and the deal aims to provide MiniLuxe access to public markets and capital for growth.

Evanston-based private equity firm Industrial Opportunity Partners (IOP) has partnered with management to recapitalize Brewster Home Fashions and Fine Decor Wallcoverings. The investment will support growth and operational initiatives to expand the companies' peel-&-stick and traditional wallcovering product lines for the residential (DIY) market; terms were not disclosed.

Boston-based private equity firm Exeter Capital has partnered with NOBULL, the athletic footwear, apparel and accessories brand, via a growth equity investment to support the company's global expansion and category growth. As part of the transaction Exeter will join NOBULL's board (with Exeter team members joining as board member and observer); legal and financial advisers included Ropes & Gray, Houlihan Lokey and Mintz Levin.

Grand Rapids-based private equity firm Blackford Capital announced a majority investment in Aqua‑Leisure Industries, a Boston-area designer, manufacturer and distributor of water-sport and pool leisure consumer products. Blackford said it will support organic growth, expand distribution and pursue add-on acquisitions while the Aqua‑Leisure management team remains in place; financing partners included Mercantile Bank and Muzinich & Co., with Rush Street advising on debt financing.

Central Garden & Pet (NASDAQ: CENT) agreed to acquire Green Garden Products, a leading North American supplier of seed packets and seed-starting products, for $532 million. The deal (expected to close in Q1 2021) expands Central’s garden product portfolio and strengthens its retail footprint and digital/merchandising capabilities; Green Garden had previously been partnered with Freeman Spogli & Co.

Camano Capital and Tonka Bay Equity Partners have partnered to invest in E-Cloth LLC, a producer of premium, sustainable microfiber cleaning products. The investment will support E-Cloth's expansion in e-commerce and retail channels and further U.S. growth.

Grove Collaborative has acquired Sundaily, an ingestible skincare gummy brand, to expand its wellness and beauty product portfolio. Sundaily's co-founders will join Grove in advisory roles and operations will move to Grove's San Francisco headquarters.

North Castle Partners, a consumer-focused private equity firm, announced a strategic investment in Sparx Hockey to support the fast-growing maker of the Sparx Skate Sharpener. The partnership will provide capital and operational support to accelerate Sparx's distribution, awareness and international expansion.

All Cape Appliance, led by owner Bobby Tchaprazian and based in South Yarmouth, Massachusetts, has acquired Westport Appliance Repair in Westport, Massachusetts. The acquisition combines All Cape's retail and service capabilities with Westport's local repair expertise to expand geographic coverage and service capacity on Cape Cod.

L Catterton’s Growth Fund led a $20 million-plus growth equity investment in Hydrow, the Cambridge-based connected rowing equipment and content company. The capital will support Hydrow’s omni-channel expansion and help bring its live on-river at-home rowing experience to more consumers across the United States and internationally.

San Francisco Equity Partners (SFEP) has acquired a majority stake in jane iredale, the clean-beauty makeup and skincare brand headquartered in Great Barrington, Massachusetts. SFEP will partner with founder Jane Iredale and the company's management team to support the brand’s next phase of growth; terms were not disclosed.