Affiliates of CriticalPoint aquire Pura Vida Bracelets from Vera Bradley, Inc.

Affiliates of CriticalPoint have announced the acquisition of Pura Vida Bracelets from fashion and lifestyle brand Vera Bradley, Inc. Terms of the acquisition were not disclosed.

Founded in 2012, CriticalPoint is a full-service financial M&A firm offering investment banking, private capital, and valuation services. 

"At CriticalPoint, we were actively seeking a high-potential consumer brand where our operational expertise could accelerate growth— and we saw that in Pura Vida," said Brad Holtmeier, partner at CriticalPoint, in a statement. "The brand has an incredibly passionate customer base, a compelling product line, and a purpose-driven mission that deeply resonates with the next generation of consumers." 

Ryan Heuser, co-founder and former president of Paul Frank Industries, who was named CEO last month, will remain onboard as the company's new CEO under CriticalPoint's ownership and operational management.

"We're equally excited to welcome Ryan Heuser as CEO. His entrepreneurial track record, combined with his instinct for design, storytelling, and brand building, makes him the ideal leader to unlock Pura Vida's full potential."

The announcement comes a few months after Vera Bradley, Inc. shared plans to sell the Californian-based accessories brand to fully focus on driving the company's transformation strategy, including several cost-effective initiatives to reach 20 million dollars in savings in 2025. The company initially acquired a majority stake in Pura Vida Bracelets in 2019 and acquired the remaining 25 percent stake in five years post-closing.

Heuser, who has close to three decades of experience working in the fashion industry, first began working in public relations at Mossimo Inc. before launching Paul Frank in 1997 out of his garage in California. The brand grew rapidly into a global name, with licensed products, apparel, and accessories, over 30 stores worldwide, and distribution in more than 60 countries. In 2010, Paul Frank was acquired by billionaire Haim Saban.

"I'm excited to help reignite Pura Vida's creative and entrepreneurial spirit," said Heuser in a statement. "The brand's story mirrors my own—humble beginnings, a passion for design, and a deep commitment to brand-building. There's tremendous potential to shape its next chapter while staying true to its roots that made it so beloved."

Founded in 2010 in La Jolla, California, by Griffin Thall and Paul Goodman, who began selling handmade bracelets and jewelry crafted by Costa Rican artisans, the digitally native brand has grown into a fully-fledged accessories brand.