March 3rd. From 2023
Keen on acquisitions, Authentic Brands Group continues to seek assets based in the UK. And the company, which recently acquired Ted Baker, will be interested in the Hunter Boot.
ABG, which also owns Reebok and a significant stake in David Beckham’s company, is a potential candidate to buy Hunter, which specializes in rain boots for sale.
Sky News reports that ABG is interested in the brand, but without confirming whether the US giant is seriously considering taking over the company. The news progresses that the group has “expressed interest in the company.”
Hunter’s bidding continues after the company has secured a line of financing from existing shareholders and creditors.
The brand has a notorious reputation, being the choice of celebrities, royalty, and wealthy consumers in general. But it has had its ups and downs in recent years. Canceling physical events like music festivals during the pandemic has been a huge blow since Brand Wells is regularly seen on the feet of celebrities at these events.
The company is currently working with AlixPartners advisors on its auction. Hunter was actually bailed out in 2020 with a £16.5m cash infusion, part of which came from the Pall Mall Legacy Fund, the company’s majority owner. Shareholders also include Searchlight Capital Partners and the Pentland Group. Its annual turnover will exceed £100m (€112m).
Whatever group or company controls the company, the brand has picked up again recently, with sales picking up post-pandemic. Revenue in China has been key to its recent growth.
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