Equestrian Brand Lands Strategic Investment
Tenth Avenue Commerce (TAC), a New York- and Connecticut-based consumer driven e-commerce holding company focused on investments in authentic online brands, announced that it has completed a strategic growth investment in Kerrits Activewear, a 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 CEO.
"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 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.