The Douglas perfumery chain, controlled by the Investment fund CVC Capital Partnershas confirmed that it is preparing one Initial public offering (IPO) on the Frankfurt Stock Exchange which could be completed in the first quarter of 2024.
Specifically the company wants to go public with 1.1 billion eurosaround 800 million of them through the offer and an additional capital injection of around 300 million from the current shareholders.
«Together with its shareholder Kirk Beauty International, a company majority owned by the fund advised by global private equity firm CVC Capital Partners, and the Kreke family, Douglas is preparing for an IPO on the Regulated Market (Prime Standard) of the Frankfurt Stock ExchangeDouglas announced, noting that the transaction could be completed in the first quarter of 2024subject to capital market conditions.
At this point, as the Europa Press news agency explains in detail. The final offering structure and the terms and conditions of the IPO will be determined prior to the publication of the offering prospectus and the start of bookbuilding.
The company expects to use the revenue generated Accelerating deleveraging and reducing interest expenses, thereby expanding the Douglas Group’s financial flexibility and increasing value creation. In this context, Douglas is also confident that the remaining debt position can be refinanced on better terms compared to the IPO.
After the IPO is completed CVC Capital Partners continues to have an indirect majority stake in the Douglas group. The Kreke family remains an indirect shareholder in the companywho pointed out that “These two existing indirect shareholders will not sell any shares in the IPO«.
«Our IPO is the next logical step for us to exploit our full potential as a listed company in the future“, has explained Sander van der Laan, CEO of the Douglas Groupemphasizing that “The company is ideally positioned to further benefit from the large, resilient and growing European premium beauty market.«.
Online sales growth
The perfumery chain closed the first quarter of its 2023-2024 financial year with a net profit of 125.2 million euros, an increase of 10.6% compared to the previous year. E-commerce contributed 513.6 million to Douglas10.7% than a year earlier, while The share of online sales in company income increased by 0.8 percentage pointss, up to 33%.
Recently, the group also unveiled its new sustainability strategy, which is part of its strategy “Let it Bloom” strategy for 2026focused on accelerating business growth through a targeted omnichannel model and “strict» on the client. The company has already made great progress on its sustainability journey, for example by reducing its combined Scope 1 and Scope 2 emissions in recent years. «We are committed to our ambitious goals to further reduce our carbon footprint and promote sustainable practices.«commented the CEO.