Sequential Brands Group Inc. announced that its Board of Directors has relaunched a broad exploration of strategic alternatives available to the company to position it for success and maximize value.
Strategic alternatives may include the sale of the company or the divestiture of one or more existing brands.
Stifel will continue as the exclusive financial advisor for the process. Stifel had initially been hired in October 2019 as its exclusive financial adviser to help in the process.
“The company has successfully rationalized its cost structure and strengthened its relationships with key stakeholders during the past several months. We believe now is the right time to re-focus on the process of exploring strategic alternatives to fully maximize value for our shareholders,” said William Sweedler, executive chairman of Sequential.
The reiteration of the review process comes as Sequential Brands said on November 16 that its recently-hired CEO, David Conn, had departed.
The company’s active brands include AND1, Gaiam, SPRI, and Avia. Other brands owned by Sequential Brands include Joe’s, Ellen Tracy, Jessica Simpson, William Rast, Heely’s, Caribbean Joe, DVS, and The Franklin Mint.
Photo courtesy Sequential Brands