Permira in advanced talks to buy Dr Martens

Amy King
18 October 2013

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Permira has entered advanced talks regarding the acquisition of British boots maker Dr Martens.

The GP expects to seal the deal in the next few weeks and pay around £300m, a source close to the situation told unquote".

If the deal goes ahead, Permira will buy the 91.5% stake currently held by the founding family, leaving the remaining shares in the hands of the Dr Martens management team.

Founded in 1960 and based in Northampton, Dr Martens manufactures its eponymous boots and shoes. The label would join Hugo Boss and New Look among the GP's investments in the clothing sector.

Permira is also thought to be circling Italian luxury fashion brand Versace, having sold Valentino in 2012.

The GP held a €2.2bn first close on its fifth fund in April this year, reaching just a third of its original €6.5bn target. The fund target was dropped to €4-5bn in March 2013. The fund received commitments from 30 LPs at first close, including a €200m GP contribution from Permira.