Penti
Activity
Apparel and Retail Sales
Reason for Boycott
Penti is a retail company with 69.6% of its ownership belonging to the founding Kariyo family and 30% to the US-based global private equity fund The Carlyle Group (through Retail Mena Holdings Sàrl). Although Penti's civilian operations do not have a direct record of war crimes or occupation supply, its 30% active, strategic ownership partner, The Carlyle Group, is one of the largest global investors in the American military-industrial complex, specializing in the "Aerospace, Defense & Government Services" sector. The fund has historically owned, taken public, or sold at massive profits giant military contractors such as Booz Allen Hamilton, which works directly with the US Department of Defense (DoD), the Pentagon, and intelligence agencies; Novetta, a developer of military intelligence software; and United Defense Industries (UDI), the manufacturer of the Bradley armored fighting vehicles heavily used in the Iraq and Afghanistan occupations. The transfer of the 30% dividend and capital appreciation share of the profits generated from Penti's civilian retail operations into this corporate investment pool—which directly finances the global war industry, military technologies, and intelligence infrastructures—violates the rule of "ownership structure causing ethical concern and indirect financing" within forensic intelligence methodology. Despite being a strictly civilian brand, the institution has been classified in the "**Strict Boycott**" (*Kesin Boykot*) category because its earnings flow into the pool of a fund that holds global military investments and profits directly from wars.
