Invista exploring sale for its Apparel & Advanced Textiles business
Invista announced on Friday that is exploring strategic alternatives for its Apparel & Advanced Textiles business. The company is considering selling or retaining the business and further investing in the business from within. Goldman, Sachs & Co. has been retained to assist in exploring strategic alternatives.
Apparel & Advanced Textiles is a global producer and marketer of premium fibers and fabrics. The business is comprised of global consumer brands including Lyrca and Coolmax, and it delivers comfort and fashion in premium garments.
“A key element of our Market-Based Management business philosophy is to continuously assess the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly,” said Jeff Gentry, Invista chairman and CEO. "The Apparel business is a strategic part of our portfolio—we are extremely pleased with the results of the business and remain confident in its continued and future success. We are simply considering all available options. In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”
Invista in August 2016 debuted new Lycra technology engineered to deliver “exceptional comfort, fit and support to stretch activewear,” according to the company. The company also spotlighted its Coolmax brand with a global campaign to illustrate the fabric’s cooling attributes.
Other Invista brands include Stainmaster, Antron and Thermolite.
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