Douglas, the European market leader in selective beauty care, has scheduled the release of its results for the second quarter of fiscal year 2016/17 (ending 31 March 2017) on 24 May 2017. Douglas also announces an intention to raise a €300m incremental te
Dusseldorf, May 23, 2017. Douglas, the leading European specialist retailer in the stable selective beauty care market, will be releasing its results for the second quarter of fiscal year 2016/17 to the market at 8:00 CET on 24 May 2017.
Following its acquisition by CVC in August 2015 and capital structure optimizations in July 2016 and January 2017, Douglas has continued to demonstrate strong financial performance of sales and profitability growth.
On 17 May 2017, Douglas announced a significant step to expand further its strong positions internationally with the signing of an agreement to acquire two leading Italian beauty and perfumery chains, Limoni and La Gardenia, together trading as Leading Luxury Group (“LLG”). This acquisition follows the 16 March 2017 announcement of the signing of an acquisition agreement to acquire Grupo Bodybell in Spain.
The acquired businesses currently operate more than 700 stores and are a major step on Douglas’ journey to becoming the No. 1 or strong No. 2 position in every market it serves. The completion of the transactions remains subject to customary regulatory conditions. The acquisitions are expected to close in the fiscal year 2016/17.
Douglas intends to raise a €300m incremental term loan facility to fund the and/or refinance the purchase price of the acquisitions as well as to pay related fees and expenses. The new facility will have the same maturity date as the existing €1.370m TLB.
The deadline for commitments is 1:00 pm CET, Friday 2 June 2017.
Deutsche Bank has been mandated as Physical Bookrunner and Global Coordinator.
With approximately 1,700 stores (prior to closing of the LLG and Bodybell transactions) in 19 European countries, Douglas is a leading company in the beauty care sector in Europe. Its multi-channel offering that is fully integrated across stores, online and mobile, as well as its continually updated selection of more than 35,000 products, make Douglas the frontrunner in the growing sector it operates in. Supported by about 18,000 highly qualified employees, Douglas generated annual sales of approx. €2.7 billion in the financial year 2015/2016.
The information contained in this announcement may contain forward-looking statements, estimates and projections. These statements involve elements of subjective judgment and analysis and are based upon the best judgment of Douglas as of the date of this announcement. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties, as there are a variety of factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Therefore, you should not rely on these forward-looking statements. Neither Douglas nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this announcement or to update or keep current any of the information contained herein and this announcement is not a representation by Douglas or any other person that they will do so, except to the extent required by law.
This announcement constitutes a public disclosure of inside information by Kirk Beauty One GmbH and Douglas GmbH under Regulation (EU) 596/2014 (16 April 2014).
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase securities.