Cotton On Group Services Pty Ltd. and JD Sports Fashion plc (LSE:JD.) are in the race for General Pants Co Pty Ltd, which is up for sale through Monash Private Capital. The two are believed to be competing with at least one private equity firm for the business, which may sell for at least $50 million. It is believed to interested in buying General Pants to access third-party brands. There is speculation that the Australian company with an annual turnover of at least $1.2 billion and about $300 million of annual earnings could be considering an initial public offering. The attraction for JD Sports is believed to be access to sports fashion customers, with the potential to put high-end fashion shoes through the Glue stores.