According to British newspaper The Guardian, investment group Permira is about to purchase shoe brand Dr Martens. Permira already owns fashion brand Hugo Boss, frozen-foods producer Iglo and several other big brands.
Second time is the charm?
The current owner, the Griggs family, had put the brand up for sale last year, but failed to strike a deal as it felt the offer of 250 million euro was far below acceptable. Investment fund Pamplona Capital, owned by Russian billionaire Mikhail Fridman, was the bidder that time and according to experts earlier that year, it was well above the estimated value of the brand.
It seems that the Griggs Group made the right call as Permira is believed to have offered some 350 million euro. The recent uplift Dr Martens has seen may have something to do with the increased offer: last year, its turnover increased 27 %, almost reaching 150 million euro, with 27 million euro profit before taxes. That was another 26 % increase compared to the year before.
Investment fund Permira currently has fashion retailers Hugo Boss, Cortefiel, Springfield and New Look as part of its portfolio. It also owns DIY group Maxeda and frozen-foods producer Iglo.