Delta Apparel, Inc. has announced that it recently received an unsolicited offer to acquire its Salt Life business unit. While specific financial details and the identity of the offeror remain undisclosed, Delta Apparel has emphasized that the timing, terms, and structure of any potential transaction are uncertain. Any decision regarding this potential transaction or other strategic alternatives will be subject to approval by Delta Apparel’s board of directors.
In response to the proposal, the company’s board of directors has engaged Baird as a financial advisor to assess the offer.
Bob Humphreys, Chairman and CEO of Delta Apparel, expressed the company’s commitment to delivering maximum value to shareholders. He highlighted the remarkable growth and success of the Salt Life business since its acquisition in 2013. Salt Life, initially a regional brand, has evolved into a highly profitable venture with annual revenue exceeding $60 million. It has cultivated a diverse consumer base across the United States and internationally, implementing innovative go-to-market strategies, expanding product categories, and diversifying revenue streams.
Founded in 2003 by four water enthusiasts from Jacksonville Beach, Florida, Salt Life has emerged as a beach-inspired apparel brand with a nationwide presence. Its products are now available in over 1,700 wholesale locations spanning 48 states. Additionally, consumers can purchase Salt Life products through an e-commerce website and at 25 branded retail stores situated along the U.S. coastline, from California to Florida to New York.