Sun Capital puts DB Apparel up for sale

DB Apparel, the lingerie company that makes Wonderbra,

Playtex, Dim, and Shock Absorber, has been put up for sale by its owners.

US private equity firm Sun Capital Partners has reported appointed Morgan Stanley to sell DB Apparel, in a deal which could fetch the company more than £485m, according to French newspaper Les Echos.

The intimate group, which was bought by Sun Capital from Sara Lee six years ago, currently has no debt and could alternatively obtain re-financing should it not fetch a satisfactory valuation, according to unidentified sources cited in the same paper.

DB Apparel has seen profits increase by 600 per cent since its takeover and restructure, but there has recently been a decline in lingerie sales caused by the economic downturn in Europe, the lingerie maker's main market.