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Suits vs rockers: Dr Martens, maker of boots made famous by punks, to be bought by investors
Reported by: Associated Press
Reported: Thursday, October 24, 2013 1:49 PM EDT
The suits are taking over. An investment firm has agreed to buy Dr. Martens, the maker of the boots that became a fashion staple for punks.
Dr. Martens Chief Executive David Suddens praised the brand's status as a "symbol of self-expression" for decades, saying that Permira Funds respects and wants to nurture that heritage.
Dr. Martens employs 700 people worldwide and its products are sold in 63 countries. The deal is expected to complete in January.