LONDON â€" The private-equity firm Permira is in “advanced negotiations†to possibly acquire the family-owned Dr. Martens footwear and clothing brand, according to a person familiar with the discussions.
R Griggs Group, the family business that owns Dr. Martens, is in talks for a deal that could be worth roughly £300 million, the person said. It is unclear if the deal will result in the family selling the brand or just a license for the name.
The Griggs family had been making boots in Northampton in the English East Midlands since 1901, but created the Dr. Martens brand in 1960 when the family collaborated with two German inventors of a new type of air-cushioned sole. Their boots quickly became synonymous with British rock and roll and counterculture.
Pete Townshend, The Who’s guitarist, was a particularly vocal fan, reportedly saying he went to bed on tour with “a cognac bottle and a Dr. Martens boot,†according to the company’s Website.
The deal discussions were first reported by Sky News on Thursday.
An acquisition would add another strong consumer name to Permira’s portfolio. The European private-equity firm has investments in Hugo Boss, Spanish clothier Cortefiel and Britain’s New Look apparel retailer. Permira sold the Valentino luxury brand to a Qatar wealth fund last year.
Permira declined to comment on Thursday, while R Griggs Group didn’t immediately respond to a request for comment.
