Imperial, the headwear manufacturer founded in 1916 and owned by CPC, reported that it completed the acquisition of Pukka, Inc. (Pukka) based in Findlay, OH. Pukka designs, manufactures and markets of custom headwear in the golf, action sports and team sporting goods markets
Pukka’s management team and operations will remain in place.
“Imperial is a brand rich in heritage and traditional styling with a modern twist,” said Todd Johnson, CEO of Imperial. “Pukka is a very innovative brand with an energy that speaks to an audience distinct from Imperial. We believe both brands can co-exist by running them separately and keeping their personalities true to their DNA. I am thrilled to partner with the Pukka brand and management team, and look forward to a bright future ahead with both Imperial and Pukka continuing to service their loyal customers.”
“While the ownership of Pukka will change, our core values, vision and dedication to ‘Be Original’ will remain deeply rooted in our culture,” said Shawn Rogers, founder and CEO of Pukka. “Imperial, and its unbelievable ownership group at CPC, is going to be a great partner with vast resources that can help us accelerate a range of growth and operational initiatives for years to come.”
Kansas City, MO-based CPC, an investment holding company focused on long-term investment strategy, was formed to “buy, build, and hold great companies.” Imperial was CPC’s first acquisition in late 2021.
CPC defines itself as a “permanent investment vehicle organized as a company, not a fund. This structure “enables CPC to implement the best strategies to create defensible, long-term value aligning the incentives of shareholders, management and all stakeholders in CPC’s businesses.”
CPC is owned by “large family offices and successful entrepreneurs that are collectively aligned around long-term decision-making and wealth creation. CPC seeks to buy one to two companies a year and invest $60 million to $120 million per company into control positions. It does not use enterprise leverage to fund acquisitions, instead focusing management teams to excel in what CPC calls the Five Key Battles: People, Systems and Processes, Execution, Customer Intimacy, and Product Leadership.”
“As we embark on this exciting new chapter of our organization, it is essential to acknowledge and honor the foundation upon which both the Imperial and Pukka brands were built,” said David Shaffer, senior vice president of sales at Imperial. “I’ve long admired the culture and style that Pukka brings to headwear, and really could not be more excited to join forces with the great team they have built. On behalf of everyone at CPC and Imperial, I welcome everyone at Pukka to our family.”
Image courtesy Imperial
