PARIS — Lampe Berger, the French maker of home fragrances, is changing hands.
Private equity group Argos Soditic will become the company’s majority shareholder, the groups said in a joint statement Wednesday.
Lampe Berger was in 2007 acquired by Banexi Ventures, formerly a subsidiary of BNP Paribas that was subsequently renamed Azulis Capital.
Financial terms of the deal with Argos Soditic were not disclosed, but the companies said it was made to help Lampe Berger’s development. Specifically, the strategy includes reinforcing the group’s research-and-development activity, expanding its range of products, creating design innovations and reinforcing the company’s distribution channel.
Lampe Berger, which is based in France’s Normandy region, generates annual sales of almost 50 million euros, of which 80 percent are made abroad — 40 percent in Europe, 20 percent in North America and 20 percent in Asia. Lampe Berger registered revenue growth of 33 percent over the past five years.
The activity counts more than 7,000 distributors in 56 countries, 150 employees and produces 800,000 lamps annually.
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Lampe Berger, founded in 1898 by Maurice Berger, now also has in its portfolio alongside lamps limited-edition products and home fragrances. It will soon add candles made with 100 percent vegetal wax.
The worldwide home fragrance market, valued at 2.5 billion euros, has posted 9 percent growth between 2011 and 2016, according to the statement.
Argos Soditic is a small cap firm based in Brussels, Frankfurt, Geneva, Milan and Paris.