STORY3 Capital Partners Completes Growth Equity Investment in Harry's, Inc.

STORY3 Capital follow-on equity investment supports accelerated organic and M&A driven growth

News provided by

Jan 18, 2022, 10:00 ET

LOS ANGELES, Jan. 14, 2022 /PRNewswire/ -- STORY3 Capital Partners ("STORY3"), a leading private equity firm focused exclusively on the consumer value chain, today announced the closing of $115 million in additional equity investment into Harry's, Inc. ("Harry's") to support growth initiatives across Harry's four existing brands (Harry's, Flamingo, Cat Person and Headquarters) including Harry's recently completed acquisition of Lumē Deodorant.

Peter Comisar, STORY3's Managing Partner commented, "Harry's approached us to support the future growth of their family of next generation CPG brands through both incubation and acquisition including the compelling acquisition of Lumē. Our Firm prides itself on thought-partner advice, unmatched M&A expertise, and singular industry focus. These building blocks allow us to move quickly and decisively in our advice and capital commitments to great companies like Harry's."

Harry's is a premier, rapidly growing omnichannel CPG platform that is one of the most highly regarded disruptive players in the space. It has created and cultivated a family of well-respected consumer brands that exemplify innovative thinking and category modernization. In addition, Harry's has developed a powerful repeatable playbook to launch and scale new brands and products using its technology and digital platform, data and analytics, marketing and design proficiency, and consumer experience and engagement capabilities.

STORY3 adds Harry's to its strong portfolio of innovative businesses disrupting the consumer world, including companies such as Recover Fiber (www.recoverfiber.com), a leading material sciences company and producer of branded sustainable, premium recycled cotton fiber. Recover is reimagining the apparel industry by solving one of the world's biggest environmental issues – the massive detrimental environmental impact of apparel production and consumption.

STORY3 operates as a capital solutions provider across the entire capital structure. Beyond its private equity investment strategy encapsulated in Fund I, STORY3 offers private credit solutions through its STORY3 Credit Partners, LLC ("STORY3 Credit"). Recently, STORY3 Credit and its lending partners provided a $275 million term loan refinancing to Lands' End, Inc. (NASDAQ: LE), a leading branded ecommerce apparel retailer, and supported the financing needs of Cathie Wood's ARK Investment Management, a premier investment adviser focused solely on thematic investing in disruptive innovation.

ABOUT HARRY'S, INC.

Harry's, Inc. builds and scales great consumer products brands by putting people first and delivering against real unmet consumer needs.

The company's flagship brand Harry's was founded by Jeff Raider and Andy Katz-Mayfield in 2013. After successfully launching and scaling Harry's, Jeff and Andy saw an opportunity to bring their entrepreneurial expertise and Harry's internal resources to other CPG categories where the consumer has also been historically overlooked.

Today, Harry's, Inc. is comprised of Harry's, Flamingo, Cat Person, Headquarters, Lumē and Harry's Labs, and employs more than 1,100 people across the U.S., U.K. Canada and Germany. Every Harry's, Inc. brand makes decisions with the customer top of mind and solves for areas in which they've been underserved.

About STORY3:

STORY3 is a leading alternative investment manager focused on the consumer value chain. STORY3 is led by 30-year deal veteran Peter Comisar, a former Goldman Sachs Partner and Vice Chairman of Guggenheim Securities. Since the firm's inception in October 2018, the STORY3 team has sourced, arranged and executed over $1 billion of capital transactions in consumer-facing businesses. STORY3 employs a flexible investment strategy and pairs deep industry expertise, operating support, and unique transactional experience to support value creation for its partners. For more information, please visit www.story3capital.com.

SOURCE STORY3 Capital Partners