Olivarius Hospitality California has acquired designer, manufacturer and marketer of sun protective clothing and accessories, Coolibar.
Coolibar offers apparel focused on fitness, leisure, swimwear and accessories that provide UPF 50 plus protection from ultraviolet rays and its clothing have bagged the Skin Cancer Foundation's Seal of Recommendation.Olivarius Hospitality California has acquired designer, manufacturer and marketer of sun protective clothing and accessories, Coolibar. Coolibar offers apparel focused on fitness, leisure, swimwear and accessories that provide UPF 50 plus protection from ultraviolet rays and its clothing have bagged the Skin Cancer Foundation's Seal of Recommendation.#
"We are excited by the opportunity to continue growing our business with a new owner that is deeply passionate about our mission to inspire healthy outdoor living,” said Kendra Reichenau, CEO of Coolibar.
"As a long-time Coolibar customer, I am deeply committed to the Coolibar mission to provide premium sun protection from the damaging effects of the sun,” Olivier Leclercq, founder of Olivarius Hospitality too said.
“I look forward to lending expertise in the areas of global expansion and growth strategies from the Minneapolis-based headquarters," he added.
Coolibar's prior investors led by LFE Capital and Aavin Private Equity will be exiting their position in the business through the transaction. (AR)
Fibre2fashion News Desk - India
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