Douglas: CVC takes over German perfume retailer

Private equity firm CVC Capital Partners on Monday agreed to buy German perfume retailer Douglas from U.S. buyout group Advent and the Kreke family for an undisclosed sum.

The Kreke family, which held a 20 percent stake, will reinvest in Douglas through a joint holding company, CVC said in a statement.

Chief Executive Henning Kreke, who will continue to head the chain, said: "We look forward to partnering with CVC as a reliable and strong, long-term partner who will support the company with additional industry expertise and financial resources, to ensure our continued growth."

The acquisition does not include the book retailer Thalia and the fashion retailer AppelrathCuepper, the statement said.