Triton Group has retained investment banker Drexel...

Triton Group has retained investment banker Drexel Burnham Lambert to handle the possible sale of its Simplicity Pattern Co. subsidiary.

Described by Triton as the “largest and best known home sewing pattern operation in the world,” New York City-based Simplicity reported a profit of $4.4 million on revenue of $72.2 million for the fiscal year ended Jan. 31.

Triton’s board of directors also approved a plan for Triton to repurchase up to 1 million of its voting shares as represented by common and preferred stock. The aggregate total of Triton voting shares was 103.5 million as of June.