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According to British media Sky News, the private equity owner of Dr Martens is planning to sell the iconic footwear brand.
Permira, whose previous investments include the AA and Hugo Boss, is said to be considering selling Dr Martens about six years after its acquisition. Reportedly, the buyout house could explore the potential for a listing of the Company on a U.S. stock exchange, or a sale to a major strategic purchaser.
As reported by ILM, Dr Martens announced in March that it is investing £2 million (US$2.6 million) at its UK site near Northampton, as part of its plans to create a new visitor and heritage centre highlighting the brand’s heritage, history and connection to the city. The investment is also to include an upgrade to the manufacturing facilities to nearly double production to up to 165,000 pairs a year. Founded by the Griggs family, Permira acquired a majority stake in 2014 in a deal worth £300 million (US$390 million).