Paramount Apparel International, the parent of Imperial Headwear, has been sold to CPC LLC, a Kansas City, MO-based family office investment firm.
Terms of the transaction were not disclosed.
Paramount Apparel International, based in Bourbon, MO, owns factories in Sullivan, Winona, Ellington, Farmington, and Bonne Terre and acquired Imperial Headwear, its flagship brand, in 2012. Founded in 1916, Imperial Headwear was voted the number one headwear brand in 2021 for all public, private and resort golf facilities by the Association of Golf Merchandisers (AGM).
Established in 1929, Paramount Apparel Internationa is a privately held, fourth-generation family-run business led since 1975 by Mark Rubenstein, chairman and CEO. Founded as a headwear manufacturer, Paramount has evolved into an apparel, headwear and accessories company. Its owned brands also include Paramount Headwear and Paramount Outdoors. Paramount also has manufacturing agreements with brands including Nike, Vans, Adidas, The North Face, Wrangler, and Fanatics.
CPC, whose mantra is “Buy, Build, Hold,” was formed by the partners of Curran Companies and C3 Capital “to make long-term investments and grow businesses over decades, not years.”
“Paramount is exactly the type of business with which CPC is looking to partner,” said Wiley Curran, principal, CPC Management, LLC. “It is well-managed, a brand leader in its category and has high standards for conducting business and strongly positioned for expansion. We are looking forward to a bright future and longstanding partnership with Paramount.”
There will be no changes to the operations of Paramount. All manufacturing and distribution facilities in the state of Missouri will continue to operate as usual. Management for Paramount will remain intact focused on the growth of the company.
“We are extremely excited about CPC’s acquisition of Paramount, including the Imperial brand,” said Todd Johnson, president and chief operating officer, Paramount Apparel International. “CPC has made it very clear how committed they are to the future of Imperial, as well as the long-term success of our company. Their strategy to buy, build and hold businesses is aligned with the current ownership’s vision for the future of Imperial and Paramount.”
Photo courtesy Imperial Headwear