Wichita, Kan.-based Invista has retained the services of Goldman Sachs & Co. to help the company explore strategic alternatives for its Apparel & Advanced Textiles business. Details about the process will be kept confidential, but Invista reports options include selling the business, or keeping the business as part of the Invista portfolio. The business includes such brands as Lycra® and Coolmax® fiber.
“A key element of our Market-Based Management® business philosophy is to continuously assess the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly,” said Jeff Gentry, Invista chairman and CEO. “The apparel business is a strategic part of our portfolio — we are extremely pleased with the results of the business and remain confident in its continued and future success. We are simply considering all available options. In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”