L.L. Bean is getting serious about a possible acquisition of all or a portion of Eddie Bauer from its parent company Spiegel, which filed for bankruptcy in March.
L.L. Bean’s president/CEO Chris McCormick, in an interview with the Portland Press Herald/Maine Sunday Telegram, discussed Bauer’s most attractive elements. He said he didn’t know what Bauer might be worth while “industry speculation ranges from a low of $100 million to about $200 million,” he said, according to yesterday’s online edition of the Portland Press Herald. It also reported that the company is hiring consultants to examine Bauer’s assets and communicating with investment bankers who could assist with a bid.