If clothing company Kellwood Co. refuses Sun Capital Securities Group's $543.7 million unsolicited buyout offer, then maybe the Boca Raton, Fla.-based private equity firm should swim over to apparel rival Warnaco Group Inc., which reportedly is selling most of its swimwear brands. Warnaco announced plans to sell Anne Cole, Cole of California and Catalina, keeping only the Calvin Klein and Speedo labels, according to a Reuters story. The clothing company also said it is exploring strategic options for its Lejaby business of swimwear and lingerie. Reuters didn't list possible buyers or valuations for the assets. Last summer, Warnaco faced pressure from shareholder Barington Capital Group LP to sell itself or select assets. At the time, arbs had suggested Kellwood would be a natural buyer for Warnaco. Nothing transpired between the two from the Barington efforts. However, it seems fair to suggest that Warnaco would logically be a reasonable consolation prize for Sun Capital if it fails to win Kellwood. —Matthew Wurtzel
See Kellwood story from TheDeal.com
See Warnaco story from Reuters
See Barington story from TheDeal.com
Tags: apparel, deals, m&a, mergers, private+equity
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