For a Cool $2.5 Billion You Can Own Fort Collins’ OtterBox
People all over the world know OtterBox as the company that keeps their cell phone safe. People in Northern Colorado also know the company for that, but also as neighbors. After 16 years in Fort Collins, one of the biggest businesses in town may be changing hands.
OtterBox is exploring a possible sale that could value the company at more than $2.5 billion, Reuters reported in the New York Times Wednesday. It;s being reported that the company has hired investment bank Goldman Sachs Group Inc. to manage the sale process.
Last year, Moody’s Investors Service Inc. reported Otter Products had pro forma sales of about $925 million, so if my math is right, you’d have your money back in less than three years.
OtterBox told the Fort Collins Coloradoan that they “do (es) not comment on rumors and speculation.”