On Monday, textile company Boll & Branch announced receiving a strategic investment from a consumer-focused private equity firm that has made more than 250 investments since 1989.
Flagship Buyout Fund of L Catterton invested $100 million in Boll & Branch to accelerate the Summit-based company’s growth, expand its retail and wholesale businesses, and to support its direct-to-consumer business.
Boll & Branch is owned-and-operated as a family business and has been profitable since 2016, the company said.
“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 chief executive officer of 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,” he added.
Boll & Branches products are ethically-sourced, Fair Trade Certified and made without harmful chemicals, GMOs or pesticides in factories that empower workers and prioritize sustainable incomes, the company said.
“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,” Nik Thukral, a managing partner of L Catterton’s Flagship Buyout Fund, said in a statement.
Greenwich, Conn.-based L Catterton’s past and current investments include The Honest Co., Peloton, Elemis, Restoration Hardware, ThirdLove and others. The company boasts more than $15 million in equity capital across six fund strategies in 17 offices worldwide.