John Rich, founder of Woolrich in 1830 became known by his durable outdoor gear - personified by it patent red-and-black tartan wool hunting jacket.
Brayton, a sixth-generation successor of Woolrich's founder, was named President in 1996, who has set about shifting the company's focus from manufacturing to marketing by moving production offshore, selling all but two of the company's 10 domestic manufacturing facilities, and signing licensing deals for home furnishings and garnishing to widen the Woolrich name.
His tactics had produced promising outcome, serving the company to widen sales to about US $300 million, up from about $150 million, a decade ago, when he had taken charge of the business.
Woolrich had run into trouble lately, when it lost market share to Timberland and LL Bean.
Maker of rugged outdoor apparel that had remained under family control since its founding 176 years ago may soon have new owners.
The company is worth about $90 million, or about 6.5 times earnings before interest, taxes, depreciation and sundry pay offs.
Woolrich, based in the Pennsylvania town of the same name, has hired the boutique investment bank Morgan Joseph to investigate probable suitors, sources said.
marketing@alchempro.com
