Herschel finds a new partner. French investment firm Eurazeo has acquired a minority stake in the Vancouver-based company. The deal was valued at 60 million dollar sand it includes the participation of consortium Alliance Consumer Growth (ACG) and the equity firm Hoop.
Herschel sells its backpacks in more than 90 countries around the world. “We are thrilled to partner with Herschel management, ACG and Hoop to leverage the company’s powerful customer engagement and accelerate growth across categories, channels and geographies.” stated Adrianne Shapira, managing director of Eurozeo, in a press release.
Eurazeo plans to invest a total of 800 million dollars in American and European companies across a wide range of divisions that include beauty, fashion, home, wellness, leisure and food.
Herschel was founded in 2009 by brothers Jamie, Lyndon and Jason Cormack. Today, the company distributes its products in ninety countries with about 9,000 points of sale. The company has 250 employees and offices in Vancouver, New York, Los Angeles, Shanghai, Hong Kong, Ghent and London.