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American-based brand management business Authentic Brands Group is reportedly closing in on the acquisition of royal warrant-holding footwear brand Hunter, according to Sky News.
Sky News stated that Hunter has listed Authentic as the preferred bidder as a sale process nears a conclusion.
It also said that one source suggested the deal might value Hunter at £100m, far above prior estimates.
The source added that if the deal with Authentic falls through, China’s BaoZun, a digital commerce group which owns Gap’s operations in Greater China, remains interested.
Hunter has also reportedly appointed AlixPartners as its advisers on the auction. In March, Hunter Boots secured a £5m funding from its shareholders and an additional £2m from financial lenders.
The company was also previously saved by Pall Mall Legacy and Goldman Sachs in 2020 through a £16.5m capital injection.
Pall Mall Legacy owns the majority of Hunter’s shares, with Searchlight Capital Partners, a private equity firm, and Pentland Group, the sportswear giant behind brands such as Speedo, holding the remainder.
Retail sector has contacted Authentic Brands Group and Hunter for a comment.
