Sparta Capital builds stake in Dr Martens
Dr. Martens
57.65p
15:44 15/11/24
-0.09%
-0.05p
Activist investor Sparta Capital has built up a stake in Dr Martens.
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Citing City sources, Sky News reported that Sparta had also been engaging with the boot maker's board to boost its financial and operating performance.
Sparta was now a top 10 shareholder in Dr Martens.
The report followed months of speculation that Dr Martens's weak share price performance left it exposed to a potential activist investor stepping in or even an opportunistic takeover approach.
An institutional investor had reportedly suggested that Sparta was likely to have pressed the company to launch a share buyback, something that it did earlier in the summer.
Sparta was also believed to have pushed for Dr Martens to address problems at its US distribution centre.