Blacks Leisure confirmed its in talks to sell some or all of its retail operations to private equity groups.

 

“The Board confirms that it is in preliminary discussions with several parties regarding either a possible offer for the company or an offer to acquire certain of the company's trading activities and related assets,” the company said in a brief statement on its website. “There is no certainty that any formal offers will be forthcoming or as to the terms on which any such offer might be made.”


The British outdoor specialty retailer also confirmed it had hired the corporate finance advisory firm McQueen Limited to oversee a potential bidding process. 


 

The British newspaper The Telegraph speculated that Lion Capital, the private equity owner of AS Adventure Group, parent company to the Cotwold Outdoor chain in the UK. Lions capital was a potential suitor for Blacks in 2009, according to the Telegraph. Confirmation of the approaches could come as soon as Tuesday.