Dr Martens could be trying on a new owner for size.
The British company—known for its signature stomping boots worn by celebrities including top model Gigi Hadid and Hollywood actress Kristen Stewart—is being shopped around the market in a deal which could be valued at up to £1.2 billion.
Kenny Wilson, chief executive of Dr Martens said in August that Permira wanted to exit its investment in 2020. Private equity firms have sold 18 U.K. businesses to rivals, in deals worth a total of $4.3bn in the first eight months of the year, according to financial data provider Dealogic Online sales also increased during the period to 67%, representing around 16% of the group’s total revenue. The company, which is expanding into international markets, opened 20 new stores last year, including four in the U.S. , bringing its total to 109.
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