Consumer Products Acquisitions in Rhode Island

Teamshares has acquired Chariho Furniture, a family-owned handcrafted furniture maker based in Richmond, Rhode Island; the transaction closed on September 1, 2024. Generational Group advised Chariho Furniture on the sale; Teamshares will transition the business to employee ownership as part of its national program to acquire and convert small businesses.

American Exchange Group (AXNY Group) has acquired long-standing jewelry maker Danecraft, including its Primavera Italy brand. The acquisition will expand AXNY's jewelry portfolio and leverage its sourcing, logistics and marketing capabilities to broaden Danecraft's product range and distribution — including planned direct-to-consumer channels.

Gemspring Capital Management (through an affiliate) has acquired Bradford Soap International, a long-established developer and manufacturer of beauty and personal care products. Gemspring said it will partner with Bradford's management to broaden capabilities and product offerings and use the company as a platform to accelerate growth; financial terms were not disclosed.

Hygloss Products, Inc. has acquired the Color Fantasy Company, adding Color Fantasy’s arts-and-crafts and educational activity product line to Hygloss’s portfolio. Hygloss said it will lower prices on the Color Fantasy products and introduce group economy packs to make the items more affordable and suitable for schools, camps and other group activities.

Kids2, Inc. will acquire all outstanding common stock of SUMR Brands (Summer Infant, Inc.) for $12.00 per share in an all-cash transaction, implying a 41.2% premium to the March 15, 2022 closing price. The transaction, unanimously approved by SUMR's board and supported by significant stockholders Wynnefield Capital and Jason Macari, is expected to close in Q2 2022 and is subject to shareholder approval and Kids2 securing debt financing; SUMR will become privately held and delisted from Nasdaq upon closing.

Premier Needle Arts, a Blue Point Capital Partners portfolio company, has acquired Berroco, Inc., a long-standing family-owned supplier of knitting and crochet yarns, patterns and related products. Berroco will operate as a separate brand within the PNA family, preserving existing management, locations and sales channels to continue serving local yarn shops and e-commerce customers.

Eldridge has acquired G-Form, a Providence, Rhode Island-based maker of SmartFlex protective gear for sports, industrial, military and law enforcement applications. Eldridge said it will support G-Form's next phase of growth to expand product lines, scale international distribution, enter new sports and non-sports markets, and increase production capacity.

AUA Private Equity Partners has acquired Westminster Pet Products, a family-owned developer and marketer of pet treats, chews, supplies and shoe care products operating from a 240,000 sq. ft. BRC-AA certified facility in Cumberland, Rhode Island. AUA said Westminster will serve as its first platform investment in the pet industry and the firm plans to grow the business through product development, increased channel penetration, and future tuck-in acquisitions.