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Chunky bootmaker Dr. Martens to sell shares to public

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LONDON (AP) — The maker of Dr. Martens boots, the chunky-soled footwear favored by celebrities like Rihanna and Kristen Stewart, plans to sell shares to the public as the existing owners seek to profit from growth of the iconic brand.

Dr. Martens Ltd. said Monday that current investors plan to sell at least 25% of their stake in an initial public offering on the London Stock Exchange. Permira Funds, a London-based private equity investor, bought Dr. Martens for 300 million pounds in 2014.

Private equity firms seek to buy undervalued companies then restructure their operations and cut costs before selling at a profit.

 

 

Source: AP – All contents copyright 2021 Associated Press. All rights reserved.

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