Private equity firms TPG Capital Management and Apax Partners are among several parties interested in acquiring Cole Haan, three people familiar with the matter told Reuters. Nike had previously announced intentions to sell Cole Haan as well as Umbro by the close of its year ended June 2013.
The auction process, which began earlier this summer, is in the second round with Cole Haan likely to fetch around $500 million, two of the people told Reuters
Nike indicated in May it would look to sell Cole Haan and Umbro to focus on its namesake brand, as well as Jordan, Converse and Hurley. Goldman Sachs has been hire to oversee the sales process.
