Fri, 18 Oct 2013 | BUSINESS SALE
Dr Martens could soon be sold on to a private equity buyer in a deal worth about £300 million. It is considered likely that the brand name will remain separate and the buyer would acquire a license to use it.
Private equity firm Permira, the owner of high street shop New Look and luxury brand Hugo Boss, is said to be in advanced discussions with the Griggs family, who have owned Dr Martens since 1960.
Unnamed sources close to the proceedings say the deal could be finalised within a month. This is the second time the business has been placed on the market in two years. R Griggs Group held an auction early last year, with interest from major investors and companies, but did not attract a high enough bid to sell.
Bill Griggs stepped into the business in 1960 after spotting an advertisement placed by Germans seeking investment in the, now iconic, air-cushioned sole.
Ten years after the business almost went bust, profits are now expected to reach £30 million this year, and the boots, shoes and accessories are sold in 63 countries. Dr Martens was rescued at the time by moving operations to China and closing UK factories, with hundreds of job losses.
Created as protective footwear for workmen, the boots entered the mainstream after being worn by The Who frontman Pete Townshend in 1966. They are still very popular today and have more recently been worn by actress Drew Barrymore and performer Miley Cyrus.
__________________________________________________________________________
Related information:
Hotter Shoes retailer steps up its expansion
DE Shoes seeks a buyer for its 31 outlets
Exceptionally successful owner-operated company located in central Scotland, specialising in a niche domestic refurbishment sector with remarkable growth. This specialist operation has experienced extraordinary trading growth, driven by a tight-knit,...
An exciting opportunity to acquire a leading national commercial cleaning service provider with a strong focus in the South-East of the UK. The company’s head office is located at offices in the SE of England.
The company is a provider of residential care homes for young people with behavioural, emotional, and social difficulties resulting from early childhood trauma and adverse life experiences. Services provided by the business are flexible and dynamic,...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.