Ted Baker owner ABG eyes Hunter Boot buy
Acquisition-hungry Authentic Brands Group is continuing to eye up uk-based assets with the company that recently bought Ted Baker also now looking at Hunter Boot, a news report claims.
ABG, which also owns Reebok and a major stake in David Beckham's products business, is one of the possible bidders for Hunter, the Wellington boots specialist that also holds two royal warrants and is up for sale.
Sky News reported that ABG was looking at the brand, although it didn't know whether the American giant is seriously considering a takeover of the business. The report said it had “expressed an interest in the company”.
The auction for Hunter is going on after the business secured a funding lifeline from existing shareholders and lenders.
The brand has a high profile being a favourite of celebrities, royalty and affluent consumers generally. But it has faced ups and downs in recent years. The cancellation of live events such as music festivals during the pandemic was a major blow with the brand’s boots being a regular feature on the feet of celebrities at such of events.
It’s currently working with advisers at AlixPartners on the auction.
Hunter had previously been rescued in 2020 with a funding injection of £16.5 million, part of which came from the Pall Mall Legacy fund, which is the company's majority owner. Other shareholders include Searchlight Capital Partners and Pentland Group.
Whichever company or group eventually wins control of the business will be getting a label that has been bouncing back lately with it reportedly seeing a rebound in sales post-pandemic. Chinese revenue has been key to its recent growth.
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