Sparta Capital builds stake in Dr Martens
Dr. Martens
73.95p
13:00 23/12/24
0.54%
0.40p
Activist investor Sparta Capital has built up a stake in Dr Martens.
FTSE 250
20,424.36
13:00 23/12/24
n/a
n/a
FTSE 350
4,473.29
13:00 23/12/24
n/a
n/a
FTSE All-Share
4,430.88
13:00 23/12/24
n/a
n/a
Personal Goods
15,603.28
12:59 23/12/24
0.46%
71.36
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.