US' Gerber Finance provides $7.5 million to textile firm Pact

Pact makes clothing and linens from certified organic cotton and partners with Fair Trade Certified factories to ensure care for both people and planet. Their product line includes clothing for women, men, babies and kids as well as bath towels and bedding. The $7.5 million in funding from Gerber Finance will aid in supporting Pact’s inventory growth, new marketing initiatives, and investment into new channels of distribution, Gerber Finance said in a press release.

Gerber launched its Naturally Gerber Finance division in 2020 to serve the needs of its growing base of natural products companies in its portfolio. The team has funded over dozens of natural products companies including Stasher, Coola, and Om Mushroom Superfood.

“Thanks to the introduction by our private equity sponsor, Sunrise Strategic Partners, we realised very quickly that Gerber Finance was a perfect match in more ways than one. Everyone we’ve met at Gerber Finance believes in our business model, understands ecommerce, and values the aspects of our brand that make us unique. This played out with a flexible, well-structured piece of debt that can grow with us and provides the funding needed for us to continue our profitable growth without diluting existing shareholders,” Drew Cook, CFO of Pact said in a statement.

“We truly believe in Pact’s mission, values, and dedication to sustainability. Through our Naturally Gerber Finance division we are committed to supporting natural brands that have a positive impact on the health of people and the planet, and we couldn’t be more excited to see Pact grow and expand in a highly competitive industry,” Jennifer Palmer, CEO of Gerber Finance said.

Fibre2Fashion News Desk (GK)