CVC Agrees to Acquire Advent's Douglas at €2.8B Valuation
June 02, 2015
CVC Capital Partners has agreed to acquire Douglas, a specialist retailer of beauty and personal care products, from Advent International at a reported €2.8 billion valuation. As part of the deal, management will reinvest in the company and hold a 15% stake. Founded in 1821, Douglas had pro forma annual sales of about €2.5 billion and an adjusted pro forma EBITDA of €256 million in FY 2013/2014; the company has more than 1,700 stores in 19 countries across Europe. Advent had been considering an initial public offering for Douglas, but those plans will no longer be pursued.