Permira Said in Talks to Buy British Brand Dr. Martens

Permira Advisers LLP, the London-based private-equity firm that owns clothing brand Hugo Boss, is in advanced talks to buy iconic British punk-boot maker Dr. Martens, said a person with knowledge of the negotiations.

The buyout firm may pay about 300 million pounds ($485 million) to family-owned R. Griggs Group, which holds 91.5 percent, in a deal that would include the license to use the Dr. Martens brand, said the person, who asked not to be identified because the talks are private. An agreement could be reached as early as next month, the person said.

The acquisition would fit Permira’s strategy of buying well-known retail brands, including Hugo Boss and New Look. Dr. Martens boots, known for their thick, air-cushioned sole, gained popularity in the 1960s and ultimately spread to punk-music fans and rock stars including The Who’s Pete Townshend.

The talks were reported earlier by Sky News.

To contact the reporter on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.