Leather in the spotlight of financial funds in the US as well. Blue Point Capital Partners, an investment firm, has announced the acquisition of Weaver Leather. The company has not disclosed the economic details of the operation, but has announced a growth plan for the company.
Blue Point acquires Waever Leather
“Weaver’s main brands and its leadership position in a niche market – said John LeMay, partner of Blue Point – attracted us.” Not to mention the “fantastic alignment of the company with Blue Point philosophy”. Weaver Leather was born in 1973 from an idea of Harry Weaver with the name of Fryburg Shoe Shop. At the beginning, the main activity was to repair shoes. Soon the company grew and opened up to other markets. Today, it produces leather goods for riding and cattle breeding, but also small leather goods. Moreover, it sells finished leather (tanned in the States) and hobby tools needed to work it.
“We look forward to working with Weaver’s talented team to deliver organic growth initiatives, complemented by mergers and acquisitions,” added LeMay. Blue Point, which manages a more than 1.5 billion dollars capital, said in a statement that “Blue Point’s data and digital and supply chain capabilities will help drive marketing, branding, sourcing and product development initiatives. The company will also leverage its merger and acquisition capabilities to support Weaver, a true leader in a niche market category”. The goal: “To consolidate its track record of successful strategic acquisitions”.
Image from weaverleather.com
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