As first reported in a Counselor Breaking News Alert on Tuesday, River’s End Holdings, parent company of Top 40 supplier River’s End Trading (asi/82588), is conducting a strategic review that it says could result in a sale. Potential buyers are already taking interest, the company told Counselor.
In a statement issued this week, the Madison, WI-based company said the review will include analysis of River’s End Trading, its Page & Tuttle golf brand and its apparel decoration operation.
“We’re gauging interest within the industry for acquiring the company in its entirety, or portions of the business, including the Clarksville, TN-based decoration operation,” Marketing Director Hilary Kleese revealed to Counselor.
River’s End expects the review to take 60 days. Kleese told Counselor that River’s End has already heard from companies interested in a potential acquisition. She couldn’t elaborate as the discussions are confidential, but did share that River’s End felt now was a good time to consider selling. “With a great deal of mergers and acquisitions taking place in the industry, this seemed like the right time to review our strategic alternatives,” Kleese said.
In its statement, River’s End further explained the reasons for considering a sale in the current business climate. “Other major promotional suppliers are expanding and are looking for ways to breathe new growth into their mature business,” the statement said in part. “The opportunity for a turnkey 130,000-square-foot, award-winning decoration operation with embroidery (164 heads) and heat-transfer capabilities meets customers’ demand for expertise and flexibility in branded apparel.”
A supplier of corporate identity apparel and decoration for more than 30 years, River’s End Holdings says it is undertaking the review following several years of focusing on the distribution and decoration of top retail brands, including Columbia, Brooks Brothers, Lacoste, Storm Creek and DRI Duck.
With estimated 2015 North American promotional products sales of $98.4 million, River’s End Trading ranked 17th on Counselor’s 2016 list of the industry’s Top 40 largest suppliers as determined by revenue.