Sparta Capital builds stake in Dr.Martens

(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 bott 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.