Headwear and handbag firm Dorfman Pacific has agreed to acquire Cappelli Straworld, a manufacturer of women’s hats, handbags and accessories in straw and cloth. Financial terms were not disclosed.
The transaction provides for Miami-based Cappelli to become a division of Stockton, Calif.-based Dorfman Pacific. Cappelli chief executive officer Bonnie Rubel will lead the new division.
Net Worth Solutions, a fashion and retail advisory firm, initiated and negotiated the deal.
“Cappelli Straworld offers us an impressive design platform, along with an established brand name, to focus our efforts in producing the highest quality hats and handbags,” said Douglas Highsmith, Dorfman’s ceo.
Highsmith said Cappelli, combined with Dorfman’s owned and licensed brands, such as Scala and Ducks Unlimited, gives the firm an “expanded brand portfolio, wide range of price options and styling” to “clearly present one-stop headwear and bag options to the industry.”
Dorfman was founded in 1921 as Dorfman Hat & Cap Co. Cappelli, started in 1941 by Rubel’s grandmother, is a third-generation business.