LONDON – The maker of Dr. Martens boots, the chunky-soled footwear once championed by rebellious young people but now favored by celebrities like Rihanna, plans to sell shares to the public as the existing owners seek to profit from growth of the iconic brand.Dr.
Martens Ltd. said Monday that current investors plan to sell at least 25% of their stake in an initial public offering on the London Stock Exchange.Permira Funds, a London-based private equity investor, bought Dr.
Martens for 300 million pounds (currently worth $400 million) in 2014. Private equity firms seek to buy undervalued companies then restructure their operations and cut costs before selling at a profit.Dr.