Kerrits Activewear Announces Significant Investment from Tenth Avenue Commerce
Holding Company supports existing management team, plans substantial investments to support growth initiatives
Jul 31, 2017, 11:35 ET
NEW YORK, July 31, 2017 /PRNewswire/ -- Tenth Avenue Commerce, a New York and Connecticut-based consumer driven e-commerce holding company focused on investments in authentic online brands ("TAC"), announced that it has completed a strategic growth investment in Kerrits Activewear ("Kerrits"), a leading designer, marketer and distributor of branded performance apparel within the equestrian sports industry. Founder and CEO, Kerri Kent, has retained a significant ownership stake in the company and will continue as Chief Executive Officer.
"It's a privilege to partner with Kerrits and to be entrusted with helping the company realize its vision for growing the company," said Michael Chapin, CEO of Tenth Avenue Commerce. "Kerrits is considered the industry leader in the equestrian apparel market and is strategically positioned for strong future growth opportunities."
"We have a great deal of excitement about the relationship with TAC and what it means, not only for the Kerrits brand, but also for the team that helped build it into what it is today," said CEO Kerri Kent. "We are now positioned to execute on several exciting growth opportunities and look forward to the career opportunities this will provide for Kerrit's current and future team members, as well as for the White Salmon and Hood River communities."
Founded by an athlete with a passion for sports, Kerrit's authentic mission is to create performance apparel that is aligned with its brand promise of providing superior performance, fit, comfort and fashion. Kerrits has created a compelling lifestyle brand and has developed a fanatical consumer base over the past 30 years. In partnership with TAC, Kerrits will seek to broaden its product portfolio, enhance its digital presence and expand its international distribution.
The Meriwether Group served as exclusive financial advisor to Kerrits and Perkins Coie provided legal advice.
Kerrits Activewear is a leading provider of branded performance apparel within the equestrian sports industry specializing in innovative, solution-oriented, authentic products that empower riders to connect with their horse and with the lifestyle they embrace. The Company, founded in 1986, is considered the industry leader in the equestrian apparel. Kerrit's products fall within five categories comprised of riding accessories, women's tops, women's bottoms, kid's tops and kid's bottoms. The Company is headquartered in Bingen, Washington.
About Tenth Avenue Commerce
Tenth Avenue Commerce is a consumer driven e-commerce holding company based in New York and Connecticut. Founded in 2011, Tenth Avenue Commerce invests in brands that are leaders in their industry. TAC incorporates the brand's knowledge while bringing their expertise in data-driven digital marketing. Led by CEO Michael Chapin, Tenth Avenue Commerce currently owns and operates From You Flowers, Eve's Addiction, H. Bloom, Brook & York, Send Flowers and Social Media Link. Tenth Avenue Commerce, is an affiliate of Tenth Avenue Holdings, LLC.
About Meriwether Group
The Meriwether Group, founded in 2004, is a boutique business acceleration and financial advisory firm that focuses exclusively on disruptive, iconic and growing consumer branded companies in areas such as apparel, accessories, consumer services, powersports, food and beverage, footwear, health and wellness, and restaurants. The firm counts, amongst its clients, best-in-class brands such as Airstream, Dave's Killer Breads, KLIM, Little Big Burger, Pendleton Woolen Mills, Polaris, Stumptown Coffee, Voodoo Doughnuts, and others. For over a decade, the Meriwether Group has delivered superior outcomes for its clients based on its singular focus, deep industry expertise (as former entrepreneurs, operators, and executives), and has a commitment to building long-lasting relationships.
SOURCE Tenth Avenue Commerce
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