Pacific Brands, Australia-based leading supplier of everyday apparel brands, is considering a takeover proposal received from a US-based private equity firm.
After posting a loss of AUD 132 million during last financial year, Pacific Brands has projected weaker results for this fiscal owing to difficult trading conditions.
The Melbourne-based company said it has received an unsolicited proposal from the US-based KKR for acquiring of all of its issued capital. It added that the offer is being considered and preliminary talks are currently on with KKR.
However, it gave no assurance that the discussion will lead to an acquisition deal between the two parties.
With operations throughout Australia, New Zealand, UK, Malaysia, China and Indonesia, Pacific Brands is famous for marketing iconic everyday brands that include Bonds, Clarks, Dunlop, Grosby, Hard Yakka, Holeproof, Hush Puppies, King Gee, Mooks, Mossimo, Razzamatazz, Sheridan, Slazenger, Tontine and Volley.
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