Intrepid Advises Pukka on its Sale to Imperial, a Portfolio Company of CPC Management

Intrepid Investment Bankers, a leading middle-market investment bank, announced today that it acted as the exclusive financial advisor to Pukka, Inc. on its sale to Paramount Apparel International, LLC dba Imperial, a portfolio company of private equity group CPC Management.

With more than two decades of experience, Pukka has become a leading designer and distributor of custom headwear to the golf, corporate, brewery & restaurant, team sports, and destination leisure end markets. Since its founding in 2003, Pukka has grown to serve more than 6,400 customers annually through a commitment to provide high-quality, fully customizable products at industry-low minimum order quantities.Tombstone Pukka Medium

“We believe Imperial is the optimal partner for Pukka as it begins this next exciting chapter,” said Shawn Rogers, Founder and CEO of Pukka. “As the two market leaders in custom headwear, Pukka and Imperial will elevate each other, and we are excited to witness the success of the combined business.”

Pukka’s unmatched headwear personalization capabilities, paired with its ability to successfully serve end markets that possess different design, production, and value-added service requirements, required finding an advisor who understood how to position a multi-market business with a premium product portfolio. “The Intrepid team went above and beyond at every stage of the process. We are thankful for their tenacious efforts in getting the deal across the finish line. This was a great outcome for Pukka, Imperial, and CPC, and we could not be more excited for what the future holds,” said Andrea Mathias, President of Pukka.

“For over 30 years,  the Pukka team has made a lasting impact on the decorated apparel industry, and we were honored to serve as an advisor and strategic resource to such an industry leader,” said Marvin Padilla, Managing Director at Intrepid. “We congratulate Imperial and CPC on the transaction and look forward to watching Pukka’s continued success under its new ownership.”

About Intrepid Investment Bankers

Intrepid is a specialty investment bank focusing on M&A, capital advisory, and buy-side search services for middle market companies. Our own entrepreneurial roots, combined with MUFG (Mitsubishi UFJ Financial Group), one of the largest financial institutions in the world, unlocks the best of both worlds for our clients: human-centric investment banking at a global scale. Our unique culture attracts, develops, and retains the best talent in the industry. Through client-centered deal making, best-in-class market intelligence, global capital resources, and extensive access to acquirers and capital providers, our bankers work tenaciously to deliver the value in each business beyond conventional metrics.

About Imperial

Imperial is a consumer apparel brand founded in 1916 with design, marketing, manufacturing, and distribution capabilities. Imperial sells its products into several markets, including the direct-to-consumer (DTC), golf, corporate, and supply chain channels. Customers include the U.S. Open, PGA Championship, Open Championship, Ryder Cup, Presidents Cup, and Solheim Cup. Imperial also has manufacturing and licensing relationships with Nike, Peter Millar, Tommy Hilfiger, Vans, Adidas and many other global brands. Imperial products can be found in all Top 100 golf courses in the United States and has been voted the #1 headwear brand in golf for seven consecutive years by the Association of Golf Merchandisers (AGM) and reported as the “#1 headwear brand in the combined on and off course retail golf channels” by Golf Datatech. Imperial is also proud to fund the Imperial Foundation, a separate philanthropic organization committed to the growth and vitality of sports—especially the game of golf and those who support it—as well as the overall health and well-being of the people in the communities Imperial serves. For further information please visit imperial1916.com. Follow Imperial on Instagram at @ImperialHats.

About CPC Management

CPC is owned by large family offices and successful entrepreneurs that are collectively aligned around long-term decision making and wealth creation. It was formed from the merging of Curran Companies’ and C3 Capital’s management teams and seeks to buy one to two companies a year and invest $60 million to $120 million per company into control positions. CPC does not use enterprise leverage to fund acquisitions, instead focusing management teams to excel in the Five Key Battles™: People, Systems and Processes, Execution, Customer Intimacy, and Product Leadership. Prior to forming CPC, the management team invested in more than 100 businesses covering a wide variety of industries. For more information, visit cpc.llc

About Intrepid’s Lifestyle Brands Practice

Intrepid’s Lifestyle Brands team has decades of experience advising apparel, retail, lifestyle brands, accessories, and footwear companies on the best execution in various transaction types, including sell-side and buy-side, as well as equity and debt capital raises. We maintain deep industry relationships with leading executives, private equity investors, and companies in the industry.