Herschel Supply Co. has raised undisclosed amount in growth equity funding from Eurazeo Brands, the division of Eurazeo (EURONEXT PARIS: RF), Alliance Consumer Growth, a leading consumer-focused growth equity firm, and HOOPP Capital Partners, the private capital arm of the Healthcare of Ontario Pension Plan.
Eurazeo Brands, which focuses on differentiated consumer brands with global growth potential, is investing US $60 million.
Founded in 2009 by Cormack family, Gordon, Jamie and Lyndon Cormack, Vancouver based Herschel Supply Co. is a design driven global accessories brand that produces quality products with a fine regard for detail.
photo credit: Herschel Supply Co.
Eurazeo Brands Announces Investment In Herschel Supply Co.
PARIS, Oct. 31, 2019 /PRNewswire/ — Eurazeo announces signing a minority investment in Herschel Supply Co. (“Herschel”), a design-driven global lifestyle brand. Headquartered in Vancouver, Canada, Herschel is known for transforming the classic backpack and offering other timeless accessory products which are sold in over 90 countries. Eurazeo Brands, the division of Eurazeo focused on differentiated consumer brands with global growth potential, is investing $60M alongside a consortium comprised of Alliance Consumer Growth (“ACG”), a leading consumer-focused growth equity firm, and HOOPP Capital Partners (“HOOPP”), 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 Brands. “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.”
“Eurazeo, ACG and HOOPP are ideal partners for Herschel, a global iconic brand that transcends cultures, ages, genders, and demographics,” said Jamie Cormack, Herschel co-founder. “We’re looking forward to expanding our reach with our timeless products that are part of global culture and synonymous with travel, experience and discovery,” said Lyndon Cormack, Herschel co-founder.
Eurazeo Brands aims to invest a total of $800 million in high potential North American and European consumer companies across a wide range of verticals including beauty, fashion, home, wellness, leisure and food. The firm will serve as a value-added partner that brings proven brand-building expertise and global capabilities. ACG will provide deep consumer products experience, and along with HOOPP, will support the strong management team in its efforts to develop new product categories, grow the Company, increase brand awareness and extend its global footprint as it transforms into a culturally relevant lifestyle brand.
Jill Granoff, CEO of Eurazeo Brands, stated, “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. Herschel is a leader in backpacks and travel accessories, and represents a large, profitable addition to our portfolio. This is our first investment in a Canadian brand and we are confident that the company will achieve continued success.”
Eurazeo is a leading global investment company, with a diversified portfolio of €17.7 billion in assets under management, including nearly €12 billion from third parties, invested in nearly 400 companies. With its considerable private equity, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Shanghai, Seoul, London, Luxembourg, Frankfurt and Madrid.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
About Herschel Supply Co.
Headquartered in Vancouver, Canada, Herschel Supply is a design-driven global lifestyle brand that produces timeless products with utility design. Founded in 2009 by brothers Jamie, Lyndon, and Jason Cormack, Herschel’s product range has expanded from backpacks to include luggage, headwear, accessories, apparel, and more. Today, Herschel products are sold in over 90 countries with over 9,000 points of distribution worldwide and the support of over 250 employees across offices in Vancouver, New York, Los Angeles, Shanghai, and Hong Kong, Ghent and London.
For more information, please visit the Group’s website: www.eurazeo.com
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