Ted Baker owner weighing bid for Hunter Boot
Authentic Brands Group, the owner of Reebok and Ted Baker, is among the companies to have expressed interest in the acquisition of Hunter Boot, according to Sky News.
An auction of the business is taking place after Hunter secured a multimillion-pound funding lifeline to pave the way for its sale. The company is working with AlixPartners on the £7 million financing, which includes £5 million from existing shareholders and £2 million from lenders.
Hunter was saved in 2020 through a £16.5 million capital injection, part of which came from Pall Mall Legacy, a fund backed by existing shareholders Goldman Sachs and Three Hills Capital Partners.
Pall Mall Legacy owns the majority of Hunter's shares, alongside Searchlight Capital Partners, a private equity firm, and Speedo’s owner Pentland Group. 1856-founded Hunter, which was originally named North British Rubber Company, has seen a successful post-COVID sales rebound.
The cancellation of live events and music festivals during the pandemic had a particularly severe impact on Hunter, which has long been associated with celebrity festival-goers such as Kate Moss.
The company has closed its former flagship on London's Regent Street. The only remaining brick-and-mortar stores are at outlets Bicester Village and Woodbury in New York.