Dr Martens in £300m sale talks with private equity firm Permira

 
Oliver Smith
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BRITISH fashion brand Dr Martens is in talks to sell itself to private equity firm Permira, according to sources reported by Sky News.

Dr Martens is currently owned by the R Griggs Group, who are believed to be in talks to sell the company to Permira as soon as next month for almost £300m.

It is believed that talks over Dr Martens, whose punk-boot brand has been helped in recent years by celebrities such as Rihanna and Miley Cyrus, will exclude the sale of the Dr Martens name, which Permira will effectively acquire a licence to use.

Last year the R Griggs Group scrapped an auction to sell off the brand after bidders – including Electra Partners and Pamplona Capital – failed to reached the required asking price.

Permira has experience of owning fashion brands, it is currently a shareholder in high street chain New Look and Hugo Boss.

Permira’s offer for Dr Martens has reportedly gained the approval of Permira’s investment committee, however success is far from certain.

Talks with the R Griggs Group are being led by Cheryl Potter, head of Permira’s consumer team.

Permira declined to comment on the story.