Recover™ Accelerates Growth With $100 Million Minority Equity Investment Led By Goldman Sachs Asset Management, Partnering With Existing Investor Story3 Capital Partners

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The company has opened new manufacturing hubs in Pakistan and Bangladesh, with additional hubs in Bangladesh and Vietnam due to open in the near term.“For change to happen at scale across the fashion industry, we need partnership and collaboration with innovators like Recover,” said Lynne Walker, Director of Primark Cares, Primark. Recover will use the investment to accelerate its global expansion and production capacity, allowing more rapid adoption of sustainability initiatives by leading brands and retailers. “Recover is a leading disruptor in the apparel and textiles space with much-needed sustainable solutions grounded in materials science. Operating in the $50 billion cotton market, Recover is a leading innovator and category-defining business that has experienced rapid growth. Recover is uniquely positioned to be the global leader in sustainable cotton fiber and we are excited to partner with Goldman Sachs on the next phase of Recover’s evolution.” As a fourth-generation, family-owned company with a 70-year history in the textile industry, Recover is on a mission to scale its proprietary technology to make a lasting positive impact on the environment and partner with brands/retailers and other change makers to meet the industry’s sustainability targets.