Bloomberg News

Permira Said in Talks to Acquire British Boot Maker Dr. Martens

October 17, 2013

Permira Advisers LLP, the London-based private-equity firm that owns clothing brand Hugo Boss, is in advanced talks to buy iconic British punk-boot maker Dr. Martens, said a person with knowledge of the negotiations.

The buyout firm may pay about 300 million pounds ($485 million) to family-owned R. Griggs Group, which holds 91.5 percent, in a deal that would include the license to use the Dr. Martens brand, said the person, who asked not to be identified because the talks are private. An agreement could be reached as early as next month, the person said.

The acquisition would fit Permira’s strategy of buying well-known retail brands, including Hugo Boss and New Look. Dr. Martens boots, known for their thick, air-cushioned sole, gained popularity in the 1960s and ultimately spread to punk-music fans and rock stars including The Who’s Pete Townshend.

The talks were reported earlier by Sky News.

To contact the reporter on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus