Updated at 4:06 p.m., Wednesday, January 16, 2008
Reyn Spooner sells majority stake to Mainland investor
Advertiser Staff
Reyn Spooner, the kama'aina family business that invented the reverse-print aloha shirt, has sold majority control of the company to a Los Angeles-based investment firm under a plan to expand the venerable apparel designer and retailer globally.Big Island-based Reyn's announced yesterday that private equity firm Wedbush Capital Partners acquired a majority stake for an undisclosed price and will finance expected growth of stores and merchandising deals outside Hawai'i.
Reyn's was founded in 1949 on California's Catalina Island and moved to Hawai'i in 1959, opening it first store at the then-new Ala Moana Center. Reyn's operates 10 retail stores in Hawai'i.
