Ashurst, CC, DLA advise on £300m Dr Martens sale
Ashurst, Clifford Chance (CC) and DLA Piper have landed roles on the £300m sale of iconic shoe manufacturer Dr Martens to private equity firm Permira. CC acted for longstanding client Permira, which has agreed to buy R Griggs Group, the parent company of the Dr Martens brand. CC fielded a team led by corporate partner David Pearson and banking partner Robert Lee.
October 30, 2013 at 08:03 PM
2 minute read
Ashurst, Clifford Chance (CC) and DLA Piper have landed roles on the £300m sale of iconic shoe manufacturer Dr Martens to private equity firm Permira.
CC acted for longstanding client Permira, which has agreed to buy R Griggs Group, the parent company of the Dr Martens brand. CC fielded a team led by corporate partner David Pearson and banking partner Robert Lee.
DLA advised the shareholders of Northampton-based client Griggs, led by corporate partner Noel Haywood in Birmingham.
Ashurst acted for the lenders, including AIB, Barclays, HSBC, ICG and Lloyds, with a team led by London finance partners Ross Ollerhead and Nigel Ward and tax partner Alexander Cox.
The deal is expected to complete in January 2014.
Haywood said: "This was a great transaction to be involved with – Dr Martens is an iconic and authentic brand that has millions of customers worldwide."
Dr Martens is sold in 63 countries across the US, Asia, Europe and the UK. The boots became popular with punks in the 1970s, as well as during the 1990s with the emergence of Britpop.
Permira already owns several fashion businesses including Hugo Boss and New Look.
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