Iconix Brand Group, an American manufacturer and retailer of apparel and footwear, is studying “strategic alternatives” to enhance shareholder value, including a potential sale of the company or a merger with another party.
The board has authorized management and its external advisors to consider a “broader range of strategic alternatives, including a potential sale of the company, merger or other business combination, a recapitalization of its existing capital structure, financings or re-financings of its existing indebtedness, sales of equity and equity-linked securities, dispositions of discrete brands and related assets, licensing or other strategic transactions involving the company.”
The group’s financial advisor is Ducera Partners LLC and the legal counsel Dechert LLP. It stressed that there is no assurance that the review of alternatives will lead to any transactions and that no timetable has been set for the conclusion of the review.
Bob Galvin, chief executive, says that he is confident with the company’s strategy to de-lever its balance sheet and cut costs. Iconix previously sold the rights to the Umbro and Starter brands in China.