Boulder-based Revelry Brands (Revelry), an investment firm focused on innovative businesses in the natural foods and consumer products categories, acquired Pact in 2011. Since Revelry's acquisition in December of 2011, Pact has grown revenue nearly 800 percent and is projected to grow an additional 80 percent YOY in 2014. The additional round of funding will allow Pact to continue to expand its distribution footprint, invest in new product offerings, and grow its team.
Founded in 2009, Pact launched its first product line, organic cotton underwear for men and women, later that year. The Company has since expanded its product line to include tops, bottoms and socks for men, women and babies. Pact, deeply rooted in sustainable and socially responsible practices since inception, announced in March of this year it is launching a line of organic cotton apparel manufactured in a Fair Trade Certified Facility.
"We are excited to continue our partnership with Revelry Brands and we're looking forward to the next stage of growth for the brand," said CEO Rosanne Palmisano. "With this latest equity investment we believe we can continue to build on Pact's momentum as a young leader within an evolving apparel market."
"Revelry Brands continues to see a large, untapped opportunity within apparel basics for an innovative brand that brings transparency and accountability into consumers' closets," said Megan Bent, Co-Founder and Managing Director of Revelry Brands. "Pact has done a tremendous job building a brand that speaks to these values without sacrificing quality or design. As a result, the Company has demonstrated an ability to provide category and thought leadership during this consumer closet renovation. We're thrilled to further invest in the partnership."
By press release
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