Acquisition of Pura Vida Bracelets

Consumer
Acquisition of Pura Vida Bracelets

Summary

Baird served as the exclusive financial advisor to Vera Bradley, Inc. on this transaction

About

Vera Bradley, Inc. (“Vera Bradley” or the “Company”) (NASDAQ:VRA) recently acquired a 75% interest in Creative Genius, Inc., which also operates under the name Pura Vida Bracelets (“Pura Vida”). The purchase price is cash consideration of $75.0 million, and up to $22.5 million in incremental earn-out consideration, subject to certain performance-based targets.

Vera Bradley is a leading designer of women’s handbags, luggage and travel items, fashion and home accessories, and unique gifts. The Company's innovative designs, iconic patterns, and brilliant colors continue to inspire and connect women unlike any other brand in the global marketplace. Vera Bradley offers a multi-channel sales model with products sold through independent retailers, verabradley.com, full-price Vera Bradley retail locations and outlet stores with a strong focus on service and a high level of customer engagement. Vera Bradley is headquartered in Fort Wayne, Indiana.

Pura Vida is a fast-growing, digitally-native lifestyle brand that sells a differentiated and expanding product offering of bracelets, jewelry and other lifestyle accessories. Founded in 2010 upon the “pura vida” or “pure life” lifestyle, Pura Vida has a highly loyal, socially-engaged and multi-generational consumer base. The brand provides full-time jobs to artisans across the globe and utilizes a multi-channel distribution model spanning e-commerce, subscription and wholesale accounts. Pura Vida is headquartered in La Jolla, California.
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Consumer
Acquisition of Pura Vida Bracelets
Date
July 2019
Company
Vera Bradley, Inc.
Transaction
M&A
Sectors
Consumer
Target Location
North America
Acquiror Location
North America

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