The American firm behind manufacturers reminiscent of Reebok and Ted Baker is among the many suitors weighing bids for Hunter Boot, the royal warrant-holding footwear model.
Sky News understands that Authentic Brands Group (ABG), which additionally has a stake in David Beckham’s branded merchandise portfolio, has expressed an curiosity in a cope with Hunter.
It was unclear on Thursday how severe ABG was a couple of takeover of the British model.
An public sale of the enterprise is going down after Hunter Boot secured a multimillion-pound funding lifeline, with present shareholders injecting £5m into the enterprise and lenders contributing an extra £2m.
Hunter, whose boots have usually been seen adorning festival-going celebrities reminiscent of Kate Moss and the Princess of Wales, is working with advisers at AlixPartners on the public sale.
The firm was final saved in 2020 by a £16.5m capital injection, a part of which got here from Pall Mall Legacy, a fund backed by Goldman Sachs and Three Hills Capital Partners, an present shareholder.
Pall Mall Legacy owns the vast majority of Hunter’s shares, with Searchlight Capital Partners, a non-public fairness agency, and Pentland Group, the sportswear big behind manufacturers reminiscent of Speedo, holding the rest.
Hunter, which was based in 1856 because the North British Rubber Company, has seen a post-COVID rebound in gross sales, with income in China accounting for a piece of its current development.
One of Britain’s most outstanding footwear manufacturers, Hunter is one in every of solely ten corporations to carry two royal warrants – one in every of which was issued by Queen Elizabeth II.
The cancellation of dwell leisure occasions and music festivals reminiscent of Glastonbury has had a very extreme influence on Hunter, which has long-been related to celebrities reminiscent of Ms Moss.
Hunter was traditionally dominated by gross sales of Wellington boots, however has more and more diversified right into a broader array of life-style merchandise.
It has exited its retail retailer portfolio reminiscent of its former flagship on London’s Regent Street excluding a web site at Bicester Village and Woodbury in New York.
A spokesman for Hunter declined to remark, whereas ABG didn’t reply to a request for remark.
Source: information.sky.com”