According to a report in the financial news service dealReporter, Follett Corp. has hired Credit Suisse to advise the college textbook wholesaler and bookstore operator to explore the possibility of selling the company or some of its divisions. Neither Follett nor Credit Suisse commented on the report to the dealReporter, which cited industry bankers as its source.
Based in Illinois, Follett has annual sales of $2.7 billion through six divisions and is the second largest operator of college bookstores in the country. According to the publication, Follett will hold a management presentation with potential suitors at the end of July.
