October 27, 2022: Indianapolis-based private equity firm CID Capital (“CID”) announced that its portfolio company, Giftcraft Ltd., has acquired RipSkirt Hawaii, Inc. Terms of the deal were not disclosed.
Founded in 2017, RipSkirt Hawaii designs and develops casual beachwear-inspired apparel and accessories. The Company markets products direct-to-consumer via its website, ripskirthawaii.com, and has become a popular vacation fashion line.
"This integration helps fuel the digital acceleration for Giftcraft, strengthening our footprint in the direct-to-consumer market while delivering brand value for the company," said Todd Vore, Giftcraft Chief Executive Officer. "Leveraging our sourcing, distribution and support teams with RipSkirt's strength in digital marketing positions Giftcraft for exponential growth in the digital segment."
"We are excited for the expected acceleration of RipSkirt Hawaii's business with the backing and support of an award-winning organization like Giftcraft," commented Alecia Elsasser, Founder RipSkirt Hawaii. "Our team is looking forward to building new relationships with the Giftcraft team and strengthening our operational capabilities in key facets of the business."
Steve Cobb, Eric Derheimer, and Chase Williams led the transaction for CID.
Located in Toronto, Ontario (GTA), Giftcraft is the leading provider of Fashion and Lifestyle products that inspire you to create joyful memories through all of life's special moments. Over more than 85 years of experience, and 11 consecutive years of being recognized as one of Canada's Best Managed Companies, have led Giftcraft to become a trusted go-to product partner for more than 10,000 specialty retailers and department stores throughout North America.