Boll & Branch Raises $100 Million From L Catterton to Accelerate Growth
SUMMIT, N.J. and GREENWICH, Conn., Aug. 26, 2019 /PRNewswire/ -- Boll & Branch (the "Company"), the world's leading designer and retailer of sustainable home goods, today announced that it has received a $100 million strategic investment from the Flagship Buyout Fund of L Catterton, the largest and most global consumer-focused private equity firm. The investment will fuel Boll & Branch's growth, accelerate the expansion of its retail and wholesale businesses, and support the continued success of its direct-to-consumer business.
A disruptive force of good in the textile industry, Boll & Branch is a values-driven home textiles company that prioritizes sustainability and social impact. The Company developed a unique supply chain with unprecedented levels of control and traceability, enabling Boll & Branch to offer consumers ethically conscious, luxury bedding products at accessible price points. The Company's products are Fair Trade Certified, derived from ethically-sourced raw materials, without the use of harmful chemicals, pesticides or GMOs, and made in factories that empower their workers and prioritize sustainable incomes.
"We have grown quickly since our launch in 2014, and are thrilled to welcome L Catterton to the Boll & Branch family. L Catterton brings unmatched experience in direct-to-consumer retail and home goods and is the ultimate value-added partner," said Scott Tannen, Founder and CEO, Boll & Branch. "Every set of Boll & Branch sheets we sell triggers a chain of goodness, which directly impacts tens of thousands of farmers and factory workers worldwide. Our success is proof that a focus on sustainability and positive social impact can go hand-in-hand with a high-growth, profitable business."
Under the Tannens' leadership, the Company has been profitable since 2016 as an owned-and-operated family business. Since launch, Boll & Branch has developed a bedding brand with uncompromising standards that boasts millions of satisfied sleepers, including former U.S. Presidents. This investment will further expand the brand's selling channels and grow its award-winning home goods lines into new and adjacent categories.
"With its ethically positioned, clean and sustainable products, Boll & Branch is one of the most beloved bedding brands and a leader in the rapidly growing direct-to consumer home goods category," said Nik Thukral, a Managing Partner of L Catterton's Flagship Buyout Fund. "Boll & Branch's approach capitalizes on several compelling trends including the emergence of authentic, pure, and chemical free products that can be traced back to their origin, as well as consumers' heightened focus on healthy living. We are delighted to partner with Scott, Missy, and Boll & Branch's passionate team to grow the brand."
L Catterton has significant experience investing globally in differentiated consumer brands including those with a focus on sustainability. Current and past investments include The Honest Company, Peloton, Elemis, Mizzen+Main, Nutrafol, Restoration Hardware, Rhone, ThirdLove, and Tula.
Boll & Branch will continue to be led by its founders, Scott and Missy Tannen, as well as its current leadership team. The Company will continue to be headquartered in Summit, New Jersey.
About Boll & Branch
Boll & Branch is a leading designer and retailer of home goods that are rooted in high-quality, sustainably-sourced materials. Recognized for its commitment to responsible practices, Boll & Branch is the largest consumer of Fair Trade Certified™ organic cotton and prioritizes the wellbeing of farmers and factory workers around the world.[1] The company is one of the largest direct-to-consumer home brands in the U.S. and has become the most trusted bedding brand for millions of people.
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton's team of more than 180 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.
Contacts
Boll & Branch
Caitlyn Durcan
[email protected]
845-926-7715
L Catterton
Andi Rose / Kate Clark / Andrew Squire
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[1] Textile Exchange Report, 2018
SOURCE L Catterton
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