Dr Martens secures new majority shareholder amid restructure
IngreGrsy Limited now has a 38.46% majority stake in the retailer
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Dr Martens has revealed that Guernsey-based IngreGrsy Limited has acquired a 38.46% ownership stake in the British retailer.
The announcement is part of a restructure within Dr Martens’ owner Permira’s buyout fund. Permira had acquired the bootwear company from R Riggs Group Limited in January 2014 for £300m.
As a result of the move, IngreGrsy Limited replaced IngreLux S.àr.l, a Luxembourg entity, as the company’s largest shareholder with effect from 11 June.
In an official statement, Dr Martens said: “The Permira V Fund ownership structure is otherwise unchanged and remains ultimately controlled by Permira V GP Limited and advised by Permira Advisers LLP.”
The retailer recently announced its full-year results, which saw both profits and sales plunge throughout the period. Pre-tax profit dropped to £93m, down from £159.4m in 2023, while EBITDA for the year also dropped to £197.5m, down from £245m.
Regarding the results, CEO Kenny Wilson said: “We are clear that we need to drive demand in the USA to return to growth in FY26 onwards and are executing a detailed plan to achieve this, with refocused and increased USA marketing investment in the year ahead.”
