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November 07, 2023 | Tom Ballard

Stony Creek Colors looking for merger or acquisition

The company needs a new owner to scale its natural indigo innovations and products used by many top brands.

Stony Creek Colors, the natural indigo maker based in Springfield, is in conversations with “more than a handful” of potential buyers, Jerry Steiner, Chairman of the Board, told Rivet, the online and print publication for the global denim industry

After more than a decade in business, and an announcement late last year that it had raised $4.8 million in Series B2 funding, co-led by Levi Strauss and Lewis & Clark AgriFood, the company needs a new owner to scale its natural indigo innovations and products, said Sarah Bellos, the start-up’s Founder and Chief Executive Officer.

“It’s a very deliberate action that we’re taking to be focused on finding a buyer for the business right now,” Bellos said.

The article notes that the start-up has made a solid mark on the denim industry. Companies including Levi StraussLucky BrandPatagonia and J. Crew have used Stony Creek’s sustainable, plant-based indigo. Stony Creek makes that available by growing proprietary, regenerative Indigofera plants, extracting the natural indigo and turning it into a powder. From there, the powder is used to create the company’s first-of-its-kind pre-reduced natural indigo, sold in liquid form, called IndiGold, which manufacturers can substitute for harmful, chemically based synthetic dyes. The supplier announced a partnership with Archroma in April of 2022 to manufacture and distribute the product at scale.

To continue scaling the natural indigo, Bellos said, now is the right time for Stony Creek to find new ownership. She indicated that the focus of the potential purchase is to scale natural indigo solutions to the industry at large. Bellos added in the article that Stony Creek Colors stopped production in the late summer so the team could focus its efforts on the impending transaction.

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