// US private equity firm Carlyle reportedly eyeing Dr Martens takeover
// Speculation indicates Calryle’s potential bid could value Dr Martens at more than £1bn
// Dr Martens owner Permira also reportedly working with Goldman Sachs & Robert W Baird to explore options
Reports have emerged that a US private equity firm is in talks to buy Dr Martens in a deal that could potentially value the British footwear retailer at £1 billion.
The firm that could become the owner of Dr Martens is Carlyle, as first reported by Bloomberg.
Neither Carlyle nor Dr Martens’ current owner, European buyout specialist Permira, were able to comment, but it’s thought that negotiations are in early stages and there is no certainty as to whether a deal would emerge.
- Dr Martens books 18% surge in like-for-like sales
- Dr Martens could soon be up for sale or on the stock market
- Dr Martens notches 33% profits rise
Permira is also reportedly working with Goldman Sachs and Robert W Baird to explore options for the future of Dr Martens.
It comes after speculation earlier this year that indicated Permira was mulling a potential listing of Dr Martens on the US stock exchange or to sell the business as a whole.
Permira acquired Dr Martens for £300 million in 2014 from the founding Griggs family.
Dr Martens has grown since Permira took control and in financial the year to March 31, overall revenue at the iconic footwear brand increased by 30 per cent year-on-year to £454.4 million while EBITDA skyrocketed 70 per cent to £85 million.
Dr Martens’ retail division, revenue jumped 30 per cent year-on-year to £126.7 million as like-for-like sales surged by 18 per cent.
Meanwhile, ecommerce revenue climbed 67 per cent year-on-year to £72.7 million.
Dr Martens said its direct-to-consumer channel represented 44 per cent of total revenue – up from 40 per cent in 2018.
During the year, Dr Martens opened 20 new stores and added that 77 per cent of the full year revenue came from outside the UK.