From CNBC:

True Religion, owned by Farmstead Capital Management, is exploring a sale as it returns to growth post-bankruptcy. Its sales jumped about 20% to $280 million last year, with an $80 million EBITDA. The sale process began in January, but the valuation is still unclear. Baird is running the sale process and True Religion and Baird declined to comment.

True Religion is best known for its signature stitching, embroideries, and flashy jeans, which became popular among A-listers in the early 2000s. However, by 2013, the brand had gone bankrupt because of increased competition and a fall in demand for denim. After emerging from bankruptcy twice, the brand has transformed and is now targeting a wider consumer base with decreased price points. CEO Michael Buckley plans to double revenue in the next few years by focusing on digital sales and expanding its product assortment.



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