Dr Martens could be going up for sale or put on stock market
Dr Martens could be going up for sale or put on stock market

business

Dr Martens could be going up for sale or put on stock market

Dr Martens owner and private equity firm Permira is reportedly planning to sell the British heritage footwear brand or float it on the US stock market.

According to Sky News, Permira is preparing to hire bankers to oversee a review of its options for the company just six years after it bought it from the founding Griggs family for 300 million pounds. While the amount it would be sold for is currently unclear, Sky’s sources suggested it could be worth well over double as much as Permira paid for it.

Dr Martens has been growing steadily since it was acquired by Permira in 2013, with the company reporting in the year to March 31, 2018, total revenue growth of 20 percent to 348.6 million pounds (454.9 million dollars), while EBITDA rose by 33 percent to 50 million pounds (65.2 million dollars).

Photo credit: Dr Martens, Facebook