By Yasin Ebrahim
Investing.com -- Franchise group is reportedly weighing up going private through a management buyout transaction, the Wall Street Journal reported Tuesday, citing unnamed sources.
Franchise Group Inc (NASDAQ:FRG) cut losses to close in the green, and was up nearly 0.6% in afterhours trading.
The Vitamin Shoppe Owner's management, led by Chief Executive Officer Brian Kahn, could pay a price of between $30 and $35 a share to take the company private, the people said, according to the report.
The talks, which are at an early stage, began at the end of 2022 when the stock fetched a price of about $23.82, WSJ reported.
The move comes as the company has seen its shares slump from its peak of $55.10 in December 2021 as the wave of strong consumer demand for home goods and other discretionary items seen during the pandemic faded.