Business at Crocs has hit the rocks – and now the company is on the block.
The embattled footwear maker, whose neon-hued clog business has been down at the heels due to dwindling demand, has been in talks to go private with a number of buyout firms, including KKR and Blackstone Group, according to sources.
Nevertheless, the talks recently stalled as Crocs demanded a higher price than bidders were willing to pay, insiders said.
As such, it’s not clear whether a deal will happen.
Other possible strategic alternatives include a sale of a minority stake or a joint venture, according to banking sources.
Read more at the New York Post.