Investing.com -- Brand management companies Authentic Brands Global and WHP Global have placed bids to acquire apparel retailer Lands’ End, according to a Reuters report on Wednesday.
Lands’ End, which specializes in casual sweaters and other clothing items, announced in March it was exploring strategic alternatives, including a potential sale, to maximize shareholder value. The company has engaged investment bank Perella Weinberg Partners to assist with this process.
Prior to the Reuters report, Lands’ End stock was trading at approximately $11 per share, giving the company a market capitalization of around $360 million. Potential pricing or timeline of the deal were not disclosed.
The apparel retailer was previously owned by Sears until it was spun off in 2014.