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Dr Martens up for grabs

The family group that owns Dr Martens is looking to sell after more than 50 years in the business.

The British shoemaker owned by R Griggs Group is set to cash in on its recent sales success.

Investment bank Rothschild has been tasked to seek out potential buyers for the brand run by Max Griggs, whose father bought the rights to Dr Martens from a German firm after the second world war.

The sale is estimated by experts to fetch up to £120m. Owners R Griggs Group is said to be looking at a full or partial sale.

The company has enjoyed a turnaround in recent years after nearly going under a decade ago. Last year revenue shot up 33% to £110m with the US accounting for half its sales.

Pre-tax profits more than tripled to £15.3million.

Model Agyness Deyn was unveiled last summer as the new face of the shoe brand’s autumn 11 campaign.

The famed Dr Martens boots favoured by punks and Goths were originally designed as standard footwear for the German army.

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