Pennington Creek Capital completed the acquisition of a majority stake in Rite in the Rain.

Pennington Creek Capital, a private equity firm, completed the acquisition of a majority stake in Rite in the Rain, a manufacturer of all-weather paper and notebooks. Financial terms were not disclosed. "This partnership is a testament to our shared vision for the future, recognizing Rite in the Rain’s strong legacy and immense potential. Their investment provides us with the resources and strategic support necessary to deepen our product development, enhance operational capabilities and ultimately better serve our loyal and growing customer base nationwide. We look forward to this next chapter in our storied history," Karl Mejia, Rite in the Rain CEO.