Premium denim brand True Religion was forced to put itself in play following “indications of interest” from third parties. The firm has formed a special committee consisting of nonmanagement directors to explore its strategic alternatives.
The Vernon, Calif.-based firm has hired Guggenheim Securities as its financial advisor. The evaluation process is still in the early stages and there is no guarantee there will be a sale of the firm.
Sources familiar with the expressions of interest received by True Religion said the offers are credible, and noted that the valuations are “compelling” and “substantial.”
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While no timetable has been set, it is believed that the evaluation process will be completed in a matter of a few months.