Marine and equestrian sportswear favourite Musto is expected to fetch more than £50m as its owners prepare the company for auction.
The company is being put up for sale after potential buyers expressed unsolicited interest earlier this year, sources close to the situation said.
Its owner Phoenix Equity Partners has now appointed Financo to explore the possibility of a sale.
Musto is currently expected to deliver sales of around £35m for the 2017 full year. Phoenix’s initial investment in the company in 2007 gave it a value of £40m.
While the process is in an early stage, it is thought that any agreed sale could go through within the next year.
The brand is a mainstay of British country clothing as a supplier to the British Olympic sailing and equestrian teams. It also counts the Duchess of Cambridge as a fan, and has received two royal warrants.