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Crocs appoints adviser as it explores sale

Footwear business Crocs is considering a possible sale, after having hired investment bank Moelis & Co to explore a leveraged buyout.

The company has reportedly held talks with a small group of private equity firms, including Blackstone Group and KKR & Co about buying the company.

However reports suggest some investment firms have already lost interest in buying the business because the deal is not financially attractive enough.

On October 30 Crocs revealed a 2.4% drop, of $7.1m (£4.4m), in worldwide sales to for the three months to September 30, citing declines in Japan and the Americas.

However, the company told Drapers it experienced double-digit growth across its wholesale accounts in the UK, which include Schuh and Debenhams, during the period.

Crocs’ figures show its European division has grown revenues every quarter since October 2011.

The footwear business did not respond to requests for comment.

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