FRANCE: Dim, Playtex and Wonderbra up for sale?
Dim Brand Apparel (DBA), whose portfolio includes lingerie, hosiery and underwear brands Dim, Playtex and Wonderbra, is reported to be on the market for EUR600m.
Sun Capital bought the group from Sarah Lee six years ago, but an unidentified source close to the group says Morgan Stanley has been appointed to handle the sale process. Preliminary meetings with potential investors took place earlier this week, the source added.
DBA has declined to comment, but did issue a statement saying that it "constantly monitors opportunities to ensure its long-term development."
The statement adds: "Sun Capital is a responsible shareholder and constantly monitors opportunities to ensure DBA's future growth, but has not made a formal decision on any strategic option regarding DBA."
Under Sun Capital's ownership, DB Apparel's turnover has declined from EUR950m to around EUR700m, but its profitability has increased six-fold to EUR60m.
Recent restructuring measures have seen DB Apparel axe 142 jobs at the Playtex plant in south-east France in April 2010, following poor financial results.
If Sun Capital does not obtain the asking price it is looking for it could decide to re-finance DBA, the source added.
- Traditional financing is a misfit for fast fashion
- Why do modern robotics elude sportswear makers?
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- How would end of NAFTA affect US apparel industry?
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack