the age article

Globe in US sights

INTEREST is starting to build around surfwear company Globe International's planned sale.

Several US clothing companies are rumoured to be running the ruler over the

multi-brand group with an eye to a purchase, vindicating the decision last February by Globe management — led by chief executive Matt Hill, who, along with brothers Peterand Stephen, controls almost 60 per cent of the company— to hire US investment bank Sage rather than a local banker.

The $200 million price tag was at first criticised as too high, but either the price has dropped or the idea of a trip down-under is attractive at this time of the year.

While a company spokesman refused to comment on the scuttlebutt, we hear that several of the prospective buyers are believed to be lining up trips to Globe's Port Melbourne head office, where the visiting executives will be able to

blow-off some steam in the company's mini-skate park.