Buyer For Salt Life Approaches Delta Apparel
October 2, 2023
The parent of Salt Life, Delta Apparel Inc., said Monday it received an offer to buy its ocean-inspired brand.
The company said details on the unsolicited offer will not be disclosed unless its board accepts a deal or has completed a full review of its options. Baird is serving as financial advisor to Delta Apparel.
Delta Apparel bought Salt Life in 2013 for $15 million in cash, along with two promissory notes for $22 million and an additional payment if performance targets were met. Salt Life, at the time of the acquisition, had $20 million in sales and a business mostly reliant on wholesale. Shop Eat Surf