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Report: Navis considers sale of Nike supplier Texon

Asia-focused private equity firm Navis Capital Partners is considering the sale of its footwear materials supplier portfolio company Texon International Group Ltd. after interest from potential buyers, Bloomberg News reported, citing people familiar with the matter.

Navis is looking to hire a financial adviser to gauge interest in the business that could sell for US$200 million to US$300 million, according to the sources. A formal sale process could begin later in 2020, Bloomberg added.

A representative of Navis declined a request for comment by Bloomberg.

Texon supplies non-woven and cellulose materials used in shoes for companies including Nike, Adidas and Decathlon. Its products are also used in clothing, luggage and handbags.