Delta Apparel has engaged Baird as its financial advisor after receiving an unsolicited offer to purchase its Salt Life business unit.

Salt Life was founded in 2003 and acquired by Delta Apparel in 2013. It is now a “highly profitable” business with over $60 million in revenue and a consumer base across the US and internationally.

The ocean lifestyle brand currently offers products in over 1700 wholesale locations in 48 states as well as direct-to-consumer via its e-commerce site and 25 branded retail stores.

“Our board of directors and management team are committed to maximizing value for Delta Apparel shareholders, and we believe it is in their best interests to conduct a thorough review of strategic options for our Salt Life business given the widespread interest in it,” said Bob Humphreys, chairman and CEO of Delta Apparel.

The company said it would not disclose additional developments until its board approves a specific transaction or otherwise concludes its review of strategic alternatives.

Delta Apparel manufactures, sources, and markets a diverse portfolio of core activewear and lifestyle apparel products under the primary brands of Salt Life, Soffe, and Delta. The company’s operations are located throughout the US, Honduras, El Salvador, and Mexico.