Ted Baker owner considers Hunter Boot bid
The company was saved in 2020 through a £16.5m capital injection, part of which came from Pall Mall Legacy, which is backed by Goldman Sachs and Three Hills Capital Partners
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Owner of Ted Baker and Reebok Authentic Brands Group (ABG) is reportedly weighing up a move to acquire Hunter Boot, according to Sky News.
It is unclear how serious ABG are about bidding for the footwear company which holds a royal warrant for footwear.
The business is up for auction after it secured a multi million-pound funding lifeline, with existing shareholders injecting £5m into the business and lenders contributing a further £2m. Alix Partners is advising on the auction.
The company was saved in 2020 through a £16.5m capital injection, part of which came from Pall Mall Legacy, which is backed by Goldman Sachs and Three Hills Capital Partners.
Pall Mall Legacy owns the majority of shares in the company, with Searchlight Capital Partners and Pentland Group, which owns brands such as Speedo, holding the remainder.
Hunter was founded in 1856 as the North British Rubber Company, and has seen a post-pandemic rebound in sales, with revenue in China accounting for a lot of its recent growth.
The company has exited its retail store portfolio such as its former flagship on London’s Regent Street but it has kept sites at Bicester Village and Woodbury in New York respectively.
Retail Sector has approached ABG for comment.
