Douglas completes its IPO. The German perfume chain Douglas controlled by CVC, the investment fund, has confirmed that it is preparing an initial public offering (IPO) on the Frankfurt Stock Exchange. The initial offer, according to the news agency 'Europa Press', would be around 1.1 billion.
As reported by Europa Press, the chain expects to use the proceeds to de-leverage its balance sheet and expects the debt position to be refinanced on better terms in connection with the IPO, which would accelerate debt reduction and reduce the company's interest expenses. This would increase the Douglas group's financial flexibility.
The company has issued a statement corroborating this interest and this move and estimates that the transaction may be completed in the remainder of March: "Together with its shareholder Kirk Beauty International, a holding company majority owned by funds advised by global private equity firm CVC Capital Partners, as well as by the Kreke family, Douglas is preparing for an IPO on the Regulated Market of the Frankfurt Stock Exchange," explains the German group.
Douglas has specified that after completion of the transaction, CVC Capital Partners will still hold an indirect majority stake in Douglas Group and that the Kreke family will remain an indirect shareholder of the company.
The company sees the move as "the next logical step to realise the potential in the future".
The German perfumery, cosmetics and personal care group published its 2023-equivalent results in February. The company has managed to exceed 125 million euros in the first quarter equivalent to 2023-2024 and intends to accelerate its pace to reach 5,000 million euros in 2026, and for that, it seeks to focus mainly on Europe with a strategy of expansion of physical shops in the region of Central and Eastern Europe. The company, which is headquartered in the German city of Düsseldorf, has 18,000 employees and a presence in more than 20 countries where it provides an omni-channel experience.