Bloomberg News published an article speculating about a possible sale of Burton, without disclosing any details on the source or the potential buyer’s identities. According to Bloomberg, “the Burlington, Vermont-based company is working with an adviser on the potential sale, the people said, asking not to be identified discussing confidential information. The asset is attracting interest from buyout firms, the people said. Deliberations are at an early stage and there’s no certainty they’ll result in a deal, according to the people.”
Shortly after the Bloomberg article surfaced, Burton chairman Donna Carpenter wrote a letter to all Burton employees assuring them that the brand is absolutely not for sale and will remain family and privately owned. Carpenter, the wife of founder Jake Burton-Carpenter, who passed away in 2019, runs the company along with CEO John Lacy.
According to Yahoo News, this is the original content of her letter:
”About an hour ago, Bloomberg News posted an article titled Snowboard Maker Burton Seeks Sale That Could be Valued at $800 Million. I wanted to personally tell you all that this is bullshit. Burton is absolutely NOT for sale.
Since we started Burton, there have been rumors that we’re selling the company. We even made T-shirts at tradeshows back in the day that said, ‘No we’re not selling to Nike.’ We have no idea where this rumor came from, but it is completely false. (I have to say, it was for a good price so you all are doing a really great job.)
Seriously, as I’ve said a number of times, Burton will remain family-owned and privately held.
With Gratitude, Donna”
