Menguin, an online suit and tuxedo rental company, has been acquired by Generation Tux for $25 million. Menguin is one of 13 companies in the Innovation Indiana Fund portfolio.
According to a news release, Menguin has experienced three years at an 800 percent compound annual growth rate. Menguin and Generation Tux will continue to operate as separate brands under the holding company Gen Tux Inc., while leveraging their combined operational, technological, fashion and fulfillment abilities.
More information about the acquisition is available online.