WWD.com/beauty-industry-news/financial/ofi-buys-majority-stake-in-dessange-1701156/
government-trade
government-trade

OFI Buys Majority Stake in Dessange

OFI Private Equity Capital has acquired 65 percent of hair care and beauty salon concern Dessange International for approximately 80 million euros.

PARIS — OFI Private Equity Capital has acquired 65 percent of hair care and beauty salon concern Dessange International for approximately 80 million euros, or $124.4 million at current exchange, from company founder Jacques Dessange, his partners Daniel Conte and Michel Cauvin and Naxitis Group.

Dessange retains 20 percent of the firm and remains a strategic adviser to the company’s management team, comprising Benjamin Dessange, Bernard Sagon and Frédéric Moréno, who together hold a 15 percent stake in Dessange International.

The company, founded in 1954, has three salon brands — Dessange, Camille Albane and Frédéric Moréno — which make up a franchised network of more than 1,000 salons, of which 40 percent are outside of France, in 40 countries.
Dessange-branded products also exist. L’Oréal has the license for the supermarket hair care brand Compétence Professionnelle Dessange, and it is the exclusive supplier to Dessange and Frédéric Moréno salons. Procter & Gamble, through its Wella brand, supplies exclusively to Camille Albane salons. In house, Dessange International has created numerous product lines, including Phytodess and Camille Albane hair care and Dessange makeup and beauty care.
Globally, the Dessange brand generates more than 700 million euros, or $1.09 billion, annually.

In 2007, Dessange International posted revenues of 55 million euros, or $85.6 million, at average exchange for the period.

“OFI Private Equity Capital will accompany an ambitious development plan in France and throughout the world: the opening of new franchised salons of the group’s three brands, and the sales development of group-branded products sold directly in franchised salons and through specialized distribution networks,” stated OFI.