GOAT Brand Labs has finalized the acquisition of the remaining stake in Frangipani from its founders, Sunaina Patel and Mansi Kilachand. This acquisition follows the majority acquisition of Frangipani by GOAT Brand Labs in 2021, and it adheres to the terms outlined in the original agreement.
Sunaina Patel and Mansi Kilachand, the founders of Frangipani, expressed their thoughts on the acquisition as they exit the company: “As founders of this business, which was started as a brand for our own kids and has always been a labour of love for us, we are happy that the partnership with GBL has been successful. We hope that in GBL’s capable hands, the brand will achieve newer heights.”
Rishi Vasudev, CEO and Co-Founder of GOAT Brands Labs, commented on this development, acknowledging the significant role Sunaina and Mansi played in Frangipani’s growth over the past decade. With GOAT Brand Labs now in full control, they plan to leverage their direct-to-consumer (D2C) platform capabilities to drive the brand’s growth to the next level. Vasudev extended his best wishes to the founders and thanked them for their contributions in bringing the brand to this point.
