Ramblers Way raises $3.6M
Photo / Courtesy of Ramblers Way Farm
Ramblers Way Farm CEO Tom Chappell with his Rambouillet ram, Beauty, at his farm off of Route 35 in Kennebunk, where he keeps about a dozen Rambouillet sheep.
Ramblers Way Farm LLC, the second company from Tom’s of Maine founder Tom Chappell, recently raised $3.6 million of a total $4.5 million equity offering, according to a U.S. Securities and Exchange Commission filing.
In an email last night to Mainebiz, he wrote, “We are raising capital from former individuals invested in Tom's of Maine.” He said the funds would be used for working capital to grow the business. Ramblers Way makes natural fiber, high-end outdoors clothing.
Also listed on the filing is his wife, Katherine Chappell.
Chappell recently told Mainebiz the company was buying equipment from a dye house that was going out of business and would move it into a 6,000-square-foot facility in Kennebunk in February in order to bring more parts of its business in-house.
Ramblers Way also recently prepared its first shipment of naturally dyed cotton for a large customer in Japan, Isetan department store.
Chappell first told Mainebiz about raising the funds in a December profile of him and his new company.
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