UK: Hunter Boot gets private equity investment boost
The owner of the iconic Hunter wellington boot brand is eyeing international expansion after private equity firm Searchlight Capital Partners was today (16 December) named as its new controlling shareholder.
Existing shareholders in Hunter Boot Limited will "retain a significant investment," the company said.
"This transaction and future support from Searchlight will help us to capitalise on the growing demand for Hunter-branded products as we look to increase our presence in existing markets and expand in new regions around the world," said Hunter Boot chairman Peter Mullen.
"Furthermore, the partnership with Searchlight will provide us with the solid foundation we need to continue to drive growth throughout our business."
The brand continues to go from strength to strength, and has already been expanded into a range of footwear as well as outdoor products like bags, socks and accessories, which are sold in over 30 countries around the world. In its last financial year to 31 December 2010, the company reported a turnover of GBP56m and profits of GBP16m.
As well as geographic expansion, the investors hope to drive further growth in the Hunter business from new product lines.
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