Paramount Apparel International (PAi), the parent of Imperial Headwear, has been sold to a private-equity firm that plans to build the business.
CPC, based in Kansas City in Missouri, has paid an undisclosed sum for the company which it considers to be strongly “positioned for expansion”.
Based in the US, PAi is a large screen-printing and embroidery company with five factories across Missouri but it also acquired Imperial Headwear – now its flagship brand – in 2012.
Imperial Headwear, which was founded in 1916, 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 International is a privately held, fourth-generation family-run business led since 1975 by Mark Rubenstein, chairman and CEO.
Originally set up as a headwear manufacturer, Paramount has evolved into an apparel, headwear and accessories company. Its owned brands also include Paramount Headwear and Paramount Outdoors.
With a mantra of “Buy, Build, Hold”, CPC was formed by the partners of Curran Companies and C3 Capital “to make long-term investments and grow businesses over decades, not years”.
Wiley Curran, principal of CPC Management, said: “Paramount is exactly the type of business with which CPC is looking to partner.
“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 long-standing partnership with Paramount.”
CPC said it planned to make no changes to the operations of PAi and that all manufacturing and distribution facilities in Missouri would continue to operate as usual. Management for Paramount will also remain in place, working with CPC to grow the company.
Todd Johnson, PAi’s president and chief operating officer, said: “We are extremely excited about CPC’s acquisition of Paramount, including the Imperial brand.
“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.”
In the UK and the rest of Europe and the Middle East, Imperial Headwear is distributed by The Kinsey Partnership, based in Harrogate in North Yorkshire.
