P+P has represented the Douglas-owning family Kreke with regard to the sale of Douglas AG through a joint company of Familie Kreke and the financial investor Advent International to funds of the financial investor CVC Capital Partners (CVC). The Douglas-owning family Kreke remains involved as a shareholder in Douglas by way of a common holding company together with CVC. The purchase price was not disclosed.

Douglas was founded in 1821 in Hamburg and is the leading perfumery chain in Europe with 1,700 stores in 19 countries and a pro forma annual turnover of approximately EUR 2.5 billion (2013/2014).

P+P advised on the transaction with the following Munich team:

    * Wolfgang Grobecker (partner, lead, stock and corporation law, capital market law)
    * Michael Best (partner, tax)
    * Alexander Ego ( counsel, stock corporation law, capital markets)
    * Nico Fischer (counsel, tax)
    * Gerald Herrmann (associate, tax)

P+P already advised the Kreke family on the investment by Advent International in Douglas.