Delta Apparel receives unsolicited offer to purchase its Salt Life business

Delta Apparel announced that it has received an unsolicited offer to purchase its Salt Life business unit and its board of directors has engaged Baird as the company’s financial advisor. Bob Humphreys, Chairman and Chief Executive Officer, commented, “Our Board of Directors and management team are committed to maximizing value for Delta Apparel shareholders, and we believe it is in their best interests to conduct a thorough review of strategic options for our Salt Life business given the widespread interest in it. The Salt Life team has done an excellent job in taking what was essentially a small regional brand with a primarily wholesale business when we acquired it in 2013 and growing it into a highly profitable business with over $60 million in revenue, a consumer base stretching across the United States and internationally, and a variety of new go-to-market strategies, product categories and revenue channels. Today, Salt Life products are offered in over 1,700 wholesale doors across 48 states and direct-to-consumer via a growing eCommerce site as well as 25 branded retail stores spanning the U.S. coastline from California to Florida to New York.”