Investment Firm Marathon Partners Pushes Dr. Martens for Strategic Review and Possible Sale

Investment firm Marathon Partners Equity Management wants British boot maker Dr. Martens to hire bankers and begin an immediate strategic review that could lead to a sale of the company, according to a letter seen by Reuters.

The New York-based firm argues Dr. Martens’ stalled earnings growth and sharp share price drop of 83% since its public listing in 2021 have decoupled its valuation from its intrinsic value.

“Maintaining Dr. Martens as an independent publicly traded company is likely no longer in the best interests of shareholders,” Mario Cibelli, Marathon Partners’ managing member, wrote to the company’s board last month.

Read the source article at U.S. News