Douglas raises additional facility commitments and agrees to reprice existing facilities

Dusseldorf, June 13 2017. Following Douglas’ announcement on 17 May 2017 of its signed agreements to acquire Limoni and La Gardenia (trading together as Leading Luxury Group (“LLG”) and the agreement to acquire the Bodybell Group in Spain signed in March 2017, the Company has received a very positive response from lenders to its request to raise additional commitments as an incremental facility.

Douglas has agreed with lenders to raise an additional €300m of Facility B priced at E + 325 bps (0% floor) for general corporate purposes (including to fund and/or refinance the purchase price of the LLG acquisition in Italy and the Bodybell acquisition in Spain). Douglas intends to draw the additional Facility B in connection with the closing of the LLG acquisition, inter alia subject to the approval of the anti-trust authorities which is expected to occur during fiscal year 2016/17.

Following strong investor demand for the additional commitments, Douglas and its lenders have also agreed to refinance its current Facility B with a New Facility B priced at E + 350 bps (0% floor), representing a 25 bps reduction in margin.

The Effective Date for the repricing is expected to be Friday 18 August.

Deutsche Bank acted as Sole Physical Bookrunner and Global Coordinator, along with Goldman Sachs, JP Morgan and UniCredit as Joint Bookrunners.

About Douglas
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.