Dr Martens on brink of being sold for £300m

Dr Martens Carlyle Group LP acquisition Permira
The British footwear and clothing retailer is currently owned by UK-based investment firm Permira
// Dr Martens set to be sold to US private equity firm Carlyle Group LP for £300m
// The news comes after KKR dropped out of a potential deal
// It is currently owned by UK-based investment firm Permira

Dr Martens is reportedly set to be acquired by US private equity firm Carlyle Group LP for £300 million.

Carlyle is currently the interested party in talks with Dr Martens to acquire it after rival firm KKR dropped out of a potential deal, the Mail on Sunday reported.

The British footwear and clothing retailer is currently owned by UK-based investment firm Permira, which bought it in 2014 for around £300 million.


READ MORE: Dr Martens in talks with Carlyle as potential new owner


Dr Martens has been in talks with Carlyle since November, when it emerged that a deal could potentially value the retailer at £1 billion.

At the time, Bloomberg broke the news of the potential deal, and it was thought that negotiations were in early stages and there was no certainty as to whether a deal would emerge.

Last year, reports also emerged that Permira was working with Goldman Sachs Group Inc and Robert W. Baird & Co to consider selling Dr Martens or float it on the US stock market.

For the year ended March 31 2019, Dr Martens saw its revenue jump 30 per cent to £454.4 million, while EBITDA rose 70 per cent to £80 million.

In the financial year to March 31, 2019, Dr Martens opened 20 new stores. It said that 77 per cent of its full year revenue came from outside of the UK.

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