Asian buyout firm Navis Capital Partners is considering reviving the sale of its footwear materials supplier Texon, which could fetch about $300 million, according to people familiar with the matter.
Texon supplies non-woven and cellulose materials used in shoes for companies including Nike Inc., Adidas AG and Decathlon SA. Its products are also used in clothing, luggage and handbags. The company counts more than 400 employees and has a presence in 90 countries, according to its website.
Established in 1998, Navis manages more than $5 billion in private equity capital with a focus on Southeast Asia. The investment firm acquired Texon from a unit of Barclays Plc in 2016 for an undisclosed amount, with the management of the company retaining a significant stake in the business.
Read more: BNN Bloomberg
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.