Advent puts German perfume and cosmetics retailer Douglas Holding for sale
02 Apr 2015
US private equity firm Advent International plans to put its 80-per cent stake for sale in German perfume and cosmetics retailer Douglas Holding, Isabelle Parize, the head of its French unit Nocibe S.A. yesterday said at a news conference.
Parize said that Advent may either choose either a listing, a sale to another PE firm or to another industry rival.
Advent and the Kreke family - founder of the loss-making perfume-to-books retailer, had acquired Douglas in 2012 for $2 billion and had said that it would spend €500 million to grow its perfumeries business through acquisitions. (See: German retailer Douglas Holding to recommend $2-bn takeover offer from Advent International)
A year later, Douglas acquired French perfume and cosmetics retailer Nocibe S.A. for a reported price of €500 million.
Douglas owns over 1,900 stores, more than 1,500 of which are in Germany and the US. It has more than 1,168 perfume stores in 18 European countries, according to its website.
The Hamburg-based company also owns 295 ''Thalia'' book stores, 207 ''Christ'' jewellery stores 13 ''AppelrathCüpper'' fashion stores, and 245 ''Hussel'' confectionery shops.
Last year, Advent and the Kerke family sold CHRIST watch and jewelery retail unit having 220 stores throughout Germany to the private equity firm 3i.