Mezzi Holdings acquires Capital Eyewear
MEZZI HOLDINGS Inc. has completed the acquisition of Capital Eyewear. Capital Eyewear is a profitable independent eyewear design and manufacturing company based in San Francisco, Calif. Since commencing operations in 2009, Capital has developed a popular line of wood and acetate eyewear that is sold on-line as well as carried in more than 65 stores in the United States and Japan.
In consideration for the Capital Eyewear business, the company made an initial payment of $125,000 (U.S.), and has committed to make an additional payment of $125,000 (U.S.) upon the satisfaction of certain revenue-based milestones being met within the next 18 months. For further information regarding the acquisition, readers are encouraged to review the company’s news release of Aug. 28, 2015.
The completion of this transaction represents the beginning of the company’s rollup strategy of accelerating growth through acquisitions of profitable luxury brands that can benefit from leveraging Mezzi’s brand management team to catalyze increased value.
In addition, Steven Kilzer, Capital Eyewear’s founder and chief executive officer, joins Mezzi’s advisory board to bring his broad experience and success in supply chain development and product innovation to the team.
“I am very pleased to welcome Capital Eyewear to the Mezzi family. Steven has built a tremendous brand that benefits from having in-house manufacturing to ensure efficient and timely production along with constant product innovation,” Keir Reynolds, CEO and chairman, commented.
On his decision to join Mezzi, Mr. Kilzer said: “It is very exciting to begin work with Mezzi. After spending time with the team over the last few months, I am confident they have the talent and drive required to take Capital to the next level. I’m also looking forward to sharing my expertise with Mezzi to help build their vision of a broad portfolio of U.S.-based consumer brands.”
We seek Safe Harbor.
Gary Christopher Floyd, Keir Benjamin Reynolds, John Edward Veltheer
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