I wouldn't buy something purely on takeover potential, though having owned a bit of BWX prior to recent events, I view it as a floor/put option.
I wouldn't be surprised if it eventuates. The problem by and large here is (mis)management - it is not hard for me to envision the business doing better in more capable hands, or tucked into a bigger trade player with their enormous distribution like I said. I can only speak for the flagship Sukin brand, my family being a regular user of the products, but I do think it has a certain brand cache that is worth well more than zilch. Let's see how it plays out over the next year or two.
