Rothy's Enters Strategic Investment Agreement With Alpargatas
San Francisco – December 29, 2021 – Cooley advised sustainable lifestyle brand Rothy’s in connection with its strategic investment from Brazilian footwear brand Alpargatas to fuel global growth and expand vertically integrated operations. The transaction will result in a post-investment valuation of $1 billion. Lawyers Jodie Bourdet, Al Browne, Lindsy Solanki, Farzad Tabaee and Meera Patel led the Cooley team advising Rothy’s.
Under the terms of the agreement, Alpargatas will acquire 49.9% of Rothy’s in a two-step transaction, which will include an investment of $200 million in primary capital followed by an offering to acquire approximately $275 million worth of Rothy’s shares from current stockholders.
Rothy’s takes a whole-brand approach to sustainability in manufacturing, transforming recycled materials into beautiful shoes, handbags and accessories. With a vertically integrated supply chain, the company minimizes waste by knitting each product to shape in its wholly owned factory in Dongguan, China. Since launching in 2016, Rothy’s has transformed more than 100 million single-use plastic water bottles and kept 275,000 pounds of plastic out of waterways.
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