Willy Bogner GmbH, a family owned fashion and sports apparel company based in Munich, Germany, has hired Goldman Sachs to seek a buyer, according to Reuters.
Citing anonymous sources, Reuters reported that Goldman is in the early stages of shopping the company to private equity investors, who have made millions taking other family owned outdoor apparel brands public in recent years.
The company was founded in 1932 by Willy Bogner, a Germany skiing champion. It initially imported gear from Norway but soon expanded into manufacturing and first outfitted the German national team in 1936. Bogner's son, Willy Bogner, Jr, took over in 1977. A ski champion in his own right, he spearheaded the company's entry into golf and tennis wear and licensing, while his wife Sonia Bogner launched her own women's fashion line.
Although the brand is now used to sell jeans, perfume, eyewear and watches, Bogner remains best known for its fashionable ski apparel. It outfitted the German Olympic Team for 17 Winter Olympics and the 2012 Summer Olympics. Today, it distributes products in more than 30 countries, including the United States, where it has 280 points of sale and opened a company store in 2008. There are 84 Bogner stores worldwide, including 17 owned by the company and 58 franchise stores. In fiscal 2013, Bogner had sales of €240.5 million ($321 million), according to Reuters.
Goldman Sachs led Moncler's highly successful initial public offering of in December, 2013. The French company, which had outfitted the French ski team for years, ended up being valued at more than eight times trailing 12 month sales. Later that month, the third-generation CEO of Canada Goose agreed to sell control of the family owned company to Bain Capital.
