Dr Martens sold for £300m
25/10/2013
The deal, expected to be finalised in January, will see the brand join Permira's portfolio of fashion labels such as Hugo Boss and New Look.
It is the second time Dr Martens has been put up for sale in the last two years, after the family-owned R Griggs held an auction that failed to attract enough bids.
Dr Martens chief executive David Suddens said the family had decided to sell for personal reasons, and wanted to invest their money elsewhere, without specifying.
Under Permira, the brand expects to open more stores globally and develop new products areas, after seeing strong growth in its European, U.S. and Chinese markets.
Last year, Dr Martens posted sales of £160 million and pretax operating profit of £22.9 million pounds, which it expects to grow to more than £30 million in 2013.
Dr Martens boots were invented in 1947 by Klaus Martens, a German doctor who had a foot injury and created the air cushioned sole.
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