(Reuters) - Sundance Holdings Group LLC, the U.S. artisan mail-order catalog company founded by actor Robert Redford, is working with investment bank Lazard Ltd LAZ.N to explore a sale of the company, according to people familiar with the matter.
Salt Lake City-based Sundance, which has annual sales of around $200 million, could be valued at as much as $300 million, the sources said, asking not to be identified because the sale process is confidential.
Sundance, its private equity owner Brentwood Associates, and Lazard declined to comment.
Redford mailed out the first edition of the Sundance catalog in 1989, inspired by the artistry of Sundance Village, which he founded in 1969. The catalog sells apparel, accessories, furniture and decor.
Sundance Catalog was acquired in 2004 by private equity firms ACI Capital and Webster Capital. They sold the company to Brentwood Associates in 2012, but retained a minority ownership as part of the transaction.
The company has expanded beyond its catalog roots to e-commerce and eight retail stores in states that include Utah, California, Colorado and Oregon.
Redford, who co-starred with Paul Newman in “Butch Cassidy and the Sundance Kid,” has parlayed the Sundance name and his success as an actor and director into many ventures over the years including the Sundance Film Festival, Sundance Institute and cable television’s Sundance Channel. He licenses the use of the Sundance name to the catalog business.
Reporting by Lauren Hirsch
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