The New York Post is reporting that Woolrich has hired an investment banker to assess the opportunities for the 176-year-old brand. The paper said it had sources that indicated the company that has been family-owned and controlled for 176 years had hired boutique investment bank Morgan Joseph to “vet potential suitors.”
The story in the NYP said the company was “worth about $90 million, or about 6.5 times earnings before interest, taxes, depreciation and amortization.” They indicated that several people had expressed interest in the company.
There has been talk of a sale of the company since the death of Roswell Brayton in November. He had been chairman and CEO of the company until 1996, when his son, Roswell Brayton, Jr. assumed the COB role. Calls to Mr. Brayton were not returned by press time.
