An investment vehicle backed by the Permira Funds has agreed to acquire R Griggs Group Limited, the parent company and licensee in perpetuity of the Dr. Martens brand for £300m (ca. €352m). The deal is expected to be complete by January 2014.

David Suddens, CEO of Dr. Martens: “The brand’s authenticity and the millions of customers who have used Docs as a symbol of self-expression for over half a century are what makes Dr. Martens unique. The Permira Funds respect that heritage, and want to support the management team in nurturing it.”

Permira is a private equity investment company, which has conducted several investments in the fashion industry including brands such as Hugo Boss, Valentino and New Look.

In the latest acquisition process, Barclays acted as financial advisor to Permira while Rothschild advised R Griggs. Barclays is also the facility agent on the debt financing.

Dr. Martens is headquartered in Northampton, UK on the site of the original factory, though most of its products are produced in Far East. The British footwear brand is currently sold in 63 countries, principally in the US, Asia, Europe and the UK.