Felix Dennis, the British publisher who had a surprising hit with Maxim, has put the men's magazine on the sales block along with spinoff title Stuff and music magazine Blender.

Privately owned Dennis Publishing said in a statement it has hired the investment banking firm Allen & Co. to explore a sale of the three magazines, as well as the international editions of Maxim.

It gave no reasons for the sale.

Maxim debuted in the U.K. in 1995 and its formula of raunchy humour and scantily clad women was a hit with young men.

Two years later, the outspoken billionaire launched Maxim in the U.S., where it caught on despite competition from magazines such as Esquire.

There are 31 international editions of Maxim magazine in 45 countries, including the U.S., U.K. and Thailand.

Maxim's circulation is estimated at 2.5 million, but circulation for men's magazines has been falling.

Dennis will hold on to a portfolio of magazines in the United Kingdom, including several gambling, technology and car magazines, and news digest Week.

Dennis has been talking about getting out of publishing for more than a year and says he wants to plant a forest in Britain.