GOAT Brand Labs completes 100% acquisition of Frangipani
The acquisition has been done as per the terms of the original plan
GOAT Brand Labs has acquired the remaining stake in Frangipani from its founders, honouring all terms from the original plan laid out during the majority acquisition in 2021.
The founders, Sunaina Patel and Mansi Kilachand, had this to say about the acquisition, as they sell their stake and exit the company: "As founders of this business, which was started as a brand for our own kids and has always been a labour of love for us, we are happy that the partnership with GBL has been successful. We hope that in GBL's capable hands, the brand will achieve newer heights."
Rishi Vasudev, CEO and Co-Founder, GOAT Brands Labs, commenting on the development, said: "Sunaina and Mansi have played a pivotal role in growing Frangipani over the last 10 years. With GBL taking full control, we will continue using all our D2C platform capabilities to accelerate the brand for the next level of growth. I wish the founders the very best and thank them for all their efforts in bringing the brand to this point."
