BERLIN — Douglas Holding AG has a new owner: Advent International.
The global private equity firm said Tuesday that it had crossed the acquisition threshold of 76.2 percent of shares to purchase the German perfumery, jewelry, fashion, confectionery and book retail group.
Douglas’ founding Kreke family also has became an indirect, 20 percent shareholder in the bidder, Beauty Holding Three AG. That Hamburg-based concern was formed for the mid-October takeover bid and is indirectly owned by Advent.
The company bid 1.5 billion euros, or $1.9 billion at current exchange — which is 38 euros, or $49.53, per share.
Douglas stock opened Tuesday at 37.76 euros, or $49.22.