Sock retailer sells to investment company

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Ryan Roff. Courtesy boldSOCKS

A locally owned retailer with a downtown Grand Rapids storefront has changed hands and will move to Fruitport.

OCI Ventures, owned by investor Ryan Smallegan, recently acquired boldSOCKS from CEO Ryan Roff and part owners Ryan Preisner, Dan Manshaem and Adam Whitmore, according to Grand Rapids-based Small Business Deal Advisors, which represented boldSOCKS in the transaction.

Terms of the deal were not disclosed.

Founded in 2011, boldSOCKS offers a variety of ethically made dress, novelty, patterned and performance socks for men, women and children that are available for purchase online. The company also offers custom socks, gift boxes and sets, wedding and groomsmen kits, and monthly subscription boxes. Established with the principles of positive social and environmental impact, boldSOCKS has through its brand, Statement Sockwear, helped provide clean water to over 50,000 people in Rwanda.

The company opened a brick-and-mortar store six years ago at 17 S. Division Ave. in downtown Grand Rapids. The space featured Statement Sockwear and the boldSOCKS brand and acted as a showroom to increase brand awareness.

OCI Ventures plans to move the showroom and all operations to a new location in Fruitport.

Ryan Preisner. Courtesy boldSOCKS

Roff and his business partners said they decided to transition the company to new ownership to focus on emerging ventures.

OCI Ventures was established in 2020 with the goal of acquiring and growing brands by increasing revenue through marketing services and decreasing costs through process implementation and optimization.

“We are incredibly grateful for the opportunity we’ve had to turn a hobby into a fun, unique business that makes a positive impact on the world,” Roff said. “The journey has exceeded our expectations, and we know we wouldn’t be in this position if it weren’t for the employees, friends, family and the Grand Rapids community that supported us throughout the years. We are excited to see what the future holds for boldSOCKS and the way it will continue to change and grow. We think Ryan Smallegan and his team will do an incredible job bringing fresh ideas in the company’s next stage.”

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