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Dr. Will Martens go nuts?
03.07.2012 2284

Dr. Will Martens go nuts?

Alfa Co-Owners Fund may buy Dr. Martens

The Pamplona Capital Management Investment Fund, which manages the foreign assets of Alfa Group owners, is interested in buying the manufacturer of iconic British shoes Dr. Martens, The Sunday Times reported citing its sources.

Pamplona was founded in 2005 by former Alfa Bank top manager Alex Knaster after leaving this organization. The key investors in the Pamplona funds are co-owners of Alfa Group (Mikhail Fridman, German Khan, Alexey Kuzmichev).

Another contender for the shoe brand, according to the newspaper, is the direct investment fund Electra Partners.

Original brand Dr. Martens, put up for sale this year, was valued at approximately 120 £ million, but the great interest from potential buyers allowed its owners, the Griggs family, to significantly increase inquiries, the newspaper writes. Griggs hired Rothschild, an investment bank, to sell the company, which during this week selected potential buyers for the second round. According to the newspaper, Griggs now intends to gain about 200 million pounds for his business.

The Griggs family in 1960 bought the Dr. Martens is owned by its founder, the doctor Klaus Martens, who fought on the fronts of the Second World War and knows firsthand the uncomfortable military boots. After the war, he began to produce shoes combining an aggressive militaristic look and a comfortable shoe.

Brand Dr. Martens, especially popular with punks and leatherheads in the 70s of the 20th century, is now undergoing a resurgence. Its sales are growing in all major markets - in Europe, Asia and North America; clothes and shoes of various styles are now produced under this brand. According to the results of the financial 2011, which ended in March, profits from the sale of clothes and shoes Dr. Martens amounted to 22 million pounds. Revenues of R.Griggs owning the brand exceeded 112 million pounds.

Vedomosti was unable to contact Friedman, but one of the businessman’s partners heard about his interest in the deal. The representative of R.Griggs has not yet responded to the request, the Vedomosti newspaper writes.

Alfa Co-Owners Fund may buy Dr. Martens Investment Fund Pamplona Capital Management, managing foreign assets of Alfa Group owners, is interested in buying a manufacturer ...
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