Ibex, the Vermont maker of outdoor clothing has been sold at auction to a New York City-based investor group.
According to reports, Ibex, which ceased operations last November, has been sold to a group called the Flour Fund. The sale comes months after a plan to sale of the company in early 2017 collapsed.
Flour Fund is led by Principal David Hazan and made up of a group of investors who operate the companies purchased themselves. Their experience is deeply rooted in the licensing and branding world, according to the company. Flour Fund’s portfolio includes Quirky (acquired in 2014), the Lilly Drone IP (2017), and Skora (acquired in 2015).
Flour Fund plans to “invest heavily” into Ibex’s direct-to-consumer channel and will also look to apply its licensing model, typically applied to the brands it purchases.