German perfume retailer
plans flotation in 2015 Douglas
today May 29, 2015
German perfume retailer Douglas plans a stock market listing this year, consisting of a sale of existing shares and a capital increase of around 70 million euros ($77 million).
Douglas was delisted two years ago when it was acquired by U.S. buyout group Advent and the Kreke family. The company said on Friday the family would retain a stake.
Douglas said it wanted to expand its international business in growth markets, continue to strengthen its sales through multiple channels and develop and market new products.
Since being taken private, Douglas has striven to become Europe's top perfumes retailer, buying French perfumeries chain Nocibe and selling its confectionery stores.
It said on Friday sales in the first half of its 2014/15 fiscal year were around 1.5 billion euros and earnings before interest, tax, depreciation and amortisation (EBITDA) around 180 million, adjusted for one-offs and restructuring charges.
JP Morgan, Goldman Sachs and Deutsche Bank are joint global coordinators and bookrunners for the initial public offering, with Credit Suisse and Morgan Stanley as additional bookrunners.
€1 = $1.10/£0.72
© Thomson Reuters 2019 All rights reserved.