Sparta Capital builds stake in Dr Martens
By Alexander Bueso
Date: Monday 31 Jul 2023
(Sharecast News) - Activist investor Sparta Capital has built up a stake in Dr Martens.
Citing City sources, Sky News reported that Sparta had also been engaging with the boot maker's board to boost its financial and operating performance.
Sparta was now a top 10 shareholder in Dr Martens.
The report followed months of speculation that Dr Martens's weak share price performance left it exposed to a potential activist investor stepping in or even an opportunistic takeover approach.
An institutional investor had reportedly suggested that Sparta was likely to have pressed the company to launch a share buyback, something that it did earlier in the summer.
Sparta was also believed to have pushed for Dr Martens to address problems at its US distribution centre.
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