Charterhouse Capital Partners announced having entered into exclusive negotiations with AI Perfume SAS, controlled by Advent International and the Kreke family, also shareholders of Douglas Holding, to acquire French perfumery chain Nocibé.
With this proposed transaction, which is still subject to approval by antitrust authorities and completion of the consultation process with the workers' councils, the Douglas Group would further develop its position as a leading perfumery chain in Europe, as it is envisaged that Nocibé would be integrated under the roof of Douglas Holding AG by closing of the transaction.
Nocibé is the third largest distribution network of perfumes and cosmetics in France. Established in 1984, it has 455 perfume stores exclusively in France and has generated a turnover of 680 million euros in 2012. Douglas has a staff of 13.000 employees throughout Europe, in more than 900 stores, for a turnover of 3 billion euros.
Charterhouse Capital Partners was advised by Ashurst with partners Guy Benda and Nicolas Barberis and associate Julien Rebibo for the corporate aspects, partner Diane Sénéchal for the financing aspects as well as Nataline Fleury for the employment aspects.
Mayer Brown also advised the sellers with Nathalie Jalabert Doury, Joséphine Fourquet and Jean-Maxime Blutel for the antitrust aspects, as well as Laurent Borey, Benjamin Homo and Nathalie Jacquart on the tax aspects.
Scotto advised the management team with Lionel Scotto, Isabelle Cheradame, Myriam de Gaudusson and Sérafine Poyer.
Advent International was advised by Latham & Watkins with a team led by Thomas Forschbach and Denis Criton, partners, assisted by Louis Paumier on corporate aspects; Dominic Newcomb and Andy Kolacki, partners, on financing aspects; Frédéric Pradelles, partner, assisted by Oriane Fauré on antitrust aspects; Lionel Vuidard, counsel, on labor law aspects; as well as Olivia Rauch-Ravisé, partner, on tax aspects. Ernst & Young acted as financial advisor as well as on the tax aspects of the transaction.
