Champion’s sales process is moving toward the finish line.
HanesBrands fired off the gun in September by announcing it had hired Goldman Sachs and Evercore to explore “strategic options” for Active Brands, essentially putting the brand up for sale.
Since then, potential buyers are all said to have expressed interest in acquiring the business, including licensing specialists Authentic Brands Group, Marquee Brands, WHP Global and fashion producer G-III Apparel Group. ing.
Now it’s time to show them how much you care.
WWD revealed that the deadline for bidding has been set for February 21st.
Hanesbrands declined to comment, and the banks did not immediately respond to WWD’s inquiries about the timing of the auction.
While high interest rates have put a stop to some deals — high interest rates make it more expensive to borrow money for big purchases — changes in the industry have forced some deals to take place. I am.
For example, Hanesbrands decided last summer to consider its options as it worked to rebuild Champion, despite criticism from activist investor Barrington Capital Group.
Champion sales fell 19% in the quarter that ended Sept. 30, including a 16% decline due to a 22% drop in sales outside the United States.
Buyers, especially intellectual property companies looking to sign a series of licensing deals to build a business, are surely more interested in a brand’s roots and resonance with consumers than current sales.
Elsewhere, traders are turning to direct-to-consumer companies that have built brand awareness and customer bases but need help moving their businesses forward.
That includes BC Brands, a new company that will combine luxury activewear brands Bandier and Carbon38, and is keeping its eye on other acquisitions.