Pacific Brands confirms talks re. selling Brand Collective

Pacific
Brands has confirmed that it is in talks involving the sale of its Brand
Collective division.

Following
reports in the Australian Financial Review’s Street Talk column, Pacific
confirmed the talks in a statement to the ASX this morning, but said no transaction had yet
been agreed to.

As AAP notes, Brand Collective includes products such as Hush Puppies and Volley
footwear brands, as well as the licenses for clothing labels Superdry and
Mossimo.

According
to The AFR, the deal to sell Brand Collective is being advised by Macquarie
Capital, and would see the division split up and sold to multiple buyers.

Pacific Brands announced in August that it would sell its workwear division, including King Gee and Hard Yakka, to Wesfarmers for
$180 million.

Divesting
BC would see Pacific focus on Bonds and Sheridan brands, which make up more
than nine tenths of revenue, and follows last month’s comments by chairman
Peter Bush that the company would continue to rationalise its business.

Image: http://www.gopixpic.com/