DOUGLAS acquires Limoni and La Gardenia to become a leading player in the Italian beauty sector

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Douglas GmbH / Acquisition 
DOUGLAS acquires Limoni and La Gardenia to become a leading player in the 
Italian beauty sector 
 
17-May-2017 / 20:46 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
Düsseldorf/Verona/Milan, 17 May 2017. Douglas GmbH ('Douglas'), a leading 
retailer in the European beauty sector, has taken a significant step to 
further expand its strong position internationally. Profumerie Douglas 
S.p.A., the Italian subsidiary of Douglas, has signed an agreement to 
acquire two leading Italian beauty and perfumery chains - Limoni S.p.A. 
('Limoni') and La Gardenia Beauty S.p.A. ('La Gardenia'), together trading 
as Leading Luxury Group S.r.l. ('LLG') - from a group of investors led by 
private equity firm Orlando Italy Management SA ('Orlando Italy'). 
 
Limoni and La Gardenia joined forces in 2013 and form one of the leading 
beauty and perfumery retailers in Italy. With approximately 500 stores 
across all regions, LLG runs the most extensive beauty and perfumery network 
in Italy, which perfectly complements Douglas' existing 126 stores in the 
country. 
 
'Following our recent acquisition of Bodybell in Spain, we are now 
strengthening our business in yet another core market in Europe. By 
integrating LLG into our pan-European store network, Douglas will now become 
a leading player in the Italian beauty sector. This transaction is a major 
step on our journey to becoming the No. 1 or strong No. 2 in every market we 
serve', said Isabelle Parize, CEO of Douglas. 
 
Post-transaction, Douglas will operate more than 2,000 perfumeries across 
Europe from Portugal to Latvia, combined with a network of online shops, in 
19 European countries. From its international operations, Douglas has gained 
industry-leading expertise in providing exclusive shopping experiences to 
customers looking for beauty products and cosmetics. By transferring best 
practice from other European markets to Italy, Douglas strives to offer the 
highest quality service also to the Italian customers. 
 
'Douglas and LLG are a perfect match thanks to their personnel's dedication 
and commitment to satisfy customers' needs. Amongst others Douglas will 
contribute its own products from its successful 'Douglas Collection' range 
as well as considerable online expertise. Together, we will be able to offer 
attractive assortments both offline and online, introduce innovative 
omni-channel solutions and thus accelerate the e-commerce business that LLG 
has just started', explained Isabelle Parize. 
 
Dr. Henning Kreke, Chairman of the Supervisory Board of Douglas, said: 'The 
acquisition of LLG is an important step in our ambition to expand the reach 
of Douglas across Europe and particularly in the Italian market. We are 
delighted that we can combine two of the leading beauty specialists in Italy 
under the roof of Douglas. We have always strived to assert and expand our 
position as a pioneer in the industry - and we have done so to a remarkable 
extent over the past several months.' 
 
Fabio Pampani, CEO of LLG, said: 'With Douglas, we have found the ideal 
partner for LLG. Becoming part of this industry-leading player in Europe 
will provide us with the financial and operational resources needed to 
further develop our business and meet today's customer needs.' 
 
Closing of the transaction is subject to customary conditions including 
merger control approval, and the company is considering an incremental term 
loan financing to fund a portion of the transaction. Beyond this, the 
companies have agreed not to disclose financial details. 
 
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Financial/Corporate News and Press Releases. 
Archive at www.dgap.de/ukreg 
Language:      English 
Company:       Douglas GmbH 
               Hans-Günther-Sohl-Str. 7-11 
               40235 Düsseldorf 
               Germany 
ISIN:          XS1251078009, XS1251077373 
WKN:           A161MW, A161W3 
Listed:        Regulated Unofficial Market in Berlin, Hamburg, Hanover, 
               Munich, Stuttgart; Open Market in Frankfurt; Dublin 
Category Code: ACQ 
TIDM:          IRSH 
Sequence No.:  4206 
 
End of Announcement EQS News Service 
 
574991 17-May-2017 
 
 

(END) Dow Jones Newswires

May 17, 2017 14:47 ET (18:47 GMT)