The firms behind Toys ‘R’ Us and Ben Sherman are among the many rival suitors weighing presents for Hunter Boot, the royal warrant-holding footwear model.
Sky News understands that WHP Global, which owns the toy retailer, and Marquee Brands, proprietor of the style model, have each expressed an curiosity in Hunter forward of a bid deadline on the finish of the week.
City sources stated that Baozun, a Chinese digital commerce group which owns Gap’s Greater China operations, was additionally among the many events.
Earlier this month, Sky News revealed that Authentic Brands Group, the American firm behind manufacturers equivalent to Reebok and Ted Baker, had entered the bidding for Hunter.
The public sale of the enterprise is reaching a vital stage weeks 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 typically been seen adorning festival-going celebrities equivalent to Kate Moss and the Princess of Wales, is working with advisers at AlixPartners on the public sale.
The firm was final saved in 2020 via 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 nearly all of Hunter’s shares, with Searchlight Capital Partners, a non-public fairness agency, and Pentland Group, the sportswear big behind manufacturers equivalent to 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 bit of its latest development.
Hunter is one among solely 10 firms to carry two royal warrants – one among which was issued by Queen Elizabeth II.
The cancellation of stay leisure occasions and music festivals equivalent to Glastonbury has had a very extreme affect on Hunter, which has long-been related to celebrities equivalent to 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 equivalent to its former flagship on London’s Regent Street aside from a website at Bicester Village and Woodbury in New York.
A spokesman for Hunter declined to remark, whereas not one of the potential bidders could possibly be reached for remark.
Source: information.sky.com”