Pennington Creek Capital Acquires Majority Stake in Rite in the Rain

ADA, Okla.--(BUSINESS WIRE)--Aug 11, 2025--

Pennington Creek Capital, LLC, a Dallas, Texas-based private equity firm wholly owned by the Chickasaw Nation, today announced a majority equity investment in Tacoma, Washington-based Rite in the Rain.

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“This investment in Rite in the Rain represents an important step in our business diversification,” Chickasaw Nation Governor Bill Anoatubby said. “The returns from this and similar partnerships will directly fund beneficial programs and services for our citizens and communities, fulfilling a strategic goal set when Pennington Creek Capital launched in March 2024."

Founded in 1916, Rite in the Rain is a 109-year-old market leader specializing in the design, manufacture and distribution of water-resistant writing and field organization gear. Their product line includes notebooks, writing instruments, organization kits, covers and specialty paper products, all engineered for harsh and demanding environments. The company boasts substantial brand equity and a loyal customer base, including military personnel, first responders and outdoor enthusiasts. Leading online and in-store retailers sell Rite in the Rain products nationwide.

Chickasaw Nation Secretary of Commerce Dan Boren added, "Rite in the Rain is Pennington Creek Capital's first investment, perfectly aligning with our goal to invest in established companies with proven leadership, strong market positions and innovative products that promise significant growth. Led by a strong management team with experience in retail consumer products, the additional capital will support management’s strategic growth initiatives, boost operational scale and unlock new markets.”

Karl Mejia, Chief Executive Officer of Rite in the Rain, expressed enthusiasm for the partnership. "We are thrilled to welcome Pennington Creek Capital as the majority owner of Rite in the Rain. 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."

Vinson & Elkins LLP, Andersen Global, IMA Corp. and Accordion Technology provided legal, financial and other due diligence services for the transaction. Integris Partners provided sell-side representation.

About Pennington Creek Capital

Pennington Creek Capital is a private equity firm based in Dallas, Texas, and a wholly owned subsidiary of Sovereign Native Holdco LLC, a subsidiary of the Chickasaw Nation. The firm focuses on investing in established companies with strong leadership, solid market positions, and innovative, high-demand, unique products and services, aiming to drive economic expansion and growth. For more information, visit penningtoncreek.com.

About Rite in the Rain

Founded in 1916, Rite in the Rain is a Tacoma, Washington-based company that designs, manufactures, and distributes field data management and writing tools built to operate in harsh and demanding environments. With a legacy spanning over a century, Rite in the Rain is renowned for its durable and reliable products, which are used by professionals and outdoor enthusiasts in harsh environments and are sold by the country’s leading online and in-store retailers. For more information, visit riteintherain.com.

Chickasaw Nation Secretary of Commerce Dan Boren

Chickasaw Nation Governor Bill Anoatubby

NUUK, Greenland (AP) — For several weeks, international journalists and camera crews have been scurrying up to people in Greenland's capital to ask them for their thoughts on the twists and turns of a political crisis that has turned the Arctic island into a geopolitical hot spot.

President Donald Trump insists he wants to control Greenland but Greenlanders say it is not for sale. The island is a semiautonomous territory of Denmark and the prime minister of that country has warned that if the U.S. tries to take Greenland by force, it could potentially spell the end of NATO.

Greenlanders walking along the small central shopping street of the capital Nuuk have a hard time avoiding the signs that the island is near the top of the Western news agenda.

Scores of journalists have arrived from outlets including The Associated Press, Reuters, CNN, the BBC and Al Jazeera as well as from Scandinavian countries and Japan.

They film Nuuk's multicolored houses, the snowcapped hills and the freezing fjords where locals go out in small boats to hunt seals and fish. But they must try to cram their filming into about five hours of daylight — the island is in the far north and the sun rises after 11 a.m. and sets around 4 p.m.

Along the quiet shopping street, journalists stand every few meters (feet), approaching locals for their thoughts, doing live broadcasts or recording stand-ups.

Local politicians and community leaders say they are overwhelmed with interview requests.

Juno Berthelsen, MP for the Naleraq opposition party that campaigns for independence in the Greenlandic parliament, called the media attention “round two,” referring to an earlier burst of global interest following Trump's first statements in 2025 that he wanted to control Greenland.

Trump has argued repeatedly that the U.S. needs control of Greenland for its national security. He has sought to justify his calls for a U.S. takeover by repeatedly claiming that China and Russia have their own designs on Greenland, which holds vast untapped reserves of critical minerals.

Berthelsen said he has done multiple interviews a day for two weeks.

“I'm getting a bit used to it,” he said.

Greenland's population is around 57,000 people —- about 20,000 of whom live in Nuuk.

“We’re very few people and people tend to get tired when more and more journalists ask the same questions again and again,” Berthelsen said.

Nuuk is so small that the same business owners are approached repeatedly by different news organizations — sometimes doing up to 14 interviews a day.

Locals who spoke to the AP said they want the world to know that it's up to Greenlanders to decide their own future and suggested they are perplexed at Trump's desire to control the island.

“It’s just weird how obsessed he is with Greenland,” said Maya Martinsen, 21.

She said Trump is “basically lying about what he wants out of Greenland,” and is using the pretext of boosting American security as a way to try to take control of “the oils and minerals that we have that are untouched.”

The Americans, Martinsen said, “only see what they can get out of Greenland and not what it actually is.”

To Greenlanders, she said, “it's home.”

“It has beautiful nature and lovely people. It’s just home to me. I think the Americans just see some kind of business trade.”

Kwiyeon Ha contributed to this report.

A journalist films in Nuuk, Greenland, Thursday, Jan. 15, 2026. (AP Photo/Emma Burrows)

An AP journalist films people sitting by the sea in Nuuk, Greenland, Thursday, Jan. 15, 2026. (AP Photo/Emma Burrows)

A journalist conducts an interview in Nuuk, Greenland, Thursday, Jan. 15, 2026. (AP Photo/Emma Burrows)