Beach Point Capital invest in thrift store chain Brightmore Brands

• Brightmore Brands combines two independent thrift store chains to form a national platform with 18 store locations operating throughout California, New York, New Jersey and Minnesota
• Based in Santa Monica, California, Beach Point Capital Management manages $14.5 billion in assets under management, as of December 31, 2022
• Beach Point specializes in credit-related investments

Beach Point Capital Management has made a majority investment in newly launched Brightmore Brands, a sustainable retail thrift store chain. No financial terms were disclosed.

Brightmore Brands combines two independent thrift store chains to form a national platform with 18 store locations operating throughout California, New York, New Jersey and Minnesota.

Brightmore Brands’ management will continue to retain a significant ownership in the company in partnership with Beach Point.

On the transaction, Evan Klebe, managing director at Beach Point, said in a statement, “We are thrilled to partner with this experienced management team, who has played a large part in developing the retail thrift industry over the past four decades, to launch Brightmore. We look forward to supporting their mission to create a sustainable retail value chain for apparel that minimizes waste and funds important social causes.”

Based in Santa Monica, California, Beach Point Capital Management manages $14.5 billion in assets under management, as of December 31, 2022.

Beach Point specializes in credit-related investments.