INVISTA said it is exploring strategic alternatives for its Apparel & Advanced Textiles business, with the alternatives including potentially selling or retaining and further investing in the business within INVISTA. Details about the business and exploration process are confidential, but INVISTA has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.
The business unit includes well-known performance and fashion brands Lycra, CoolMax and Cordura. INVISTA chairman and CEO Jeff Gentry suggested the process was simply standard operating procedure
“A key element of our Market-Based Management business philosophy is to continuously assess the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly,” said Gentry.
“The Apparel business is a strategic part of our portfolio – we are extremely pleased with the results of the business and remain confident in its continued and future success. We are simply considering all available options,” Gentry said. “In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”