Dr Martens will join Permiras portfolio of fashion brands, which includes Hugo Boss

Dr Martens will join Permira's portfolio of fashion brands, which includes Hugo Boss

Dr Martens, the iconic British footwear brand, has been acquired by private equity firm Permira in a deal worth GBP300m (US$484.6m), ending almost a week of speculation.

The deal, which is expected to be completed in January 2014, will see Dr Martens join Permira's portfolio of fashion brands including New Look, Hugo Boss, and Cortefiel Group. 

The announcement comes less than a week after both companies refused to be drawn on reports Permira was in talks to buy Dr Martens.

Dr Martens, which is owned by R Griggs Group, is headquartered in Northampton and is sold in 63 countries, including the US, Asia, Europe and the UK.

"The brand's authenticity and the millions of customers who have used Docs as a symbol of self-expression for over half a century are what makes Dr Martens unique," said Dr Martens CEO David Suddens. 

Cheryl Potter, partner and head of the consumer sector team at Permira added: "Dr Martens is an iconic brand with a passionate fan base of followers."