BERLIN — Douglas Holding AG, the German parent company of retail chains including Douglas Perfumeries, is in exclusive negotiations to take over French perfumery chain Nocibé.
The acquisition would create the largest perfumery chain in France, consisting of 625 stores and around 4,000 employees, and together Douglas and Nocibé would achieve a number two position in terms of turnover, the company said.
Rumors of the negotiations between AI Perfume France SAS, a company controlled by Douglas Holding shareholders, and financial investor Charterhouse Capital Partners surfaced last week, but the parties involved had previously declined to comment.
The proposal must first clear standard approvals, including consultations with workers’ councils and settling anti-trust concerns.
Transactions will be conducted as a joint effort by members of Douglas founding family, Kreke, and Advent International. The two took over and then delisted Douglas Holding from the stock exchange earlier this year.
“This transaction would represent a major milestone in the successful implementation of our joint growth strategy,” said Douglas Holding’s Henning Kreke in a statement.
“As part of our corporate strategy we will continue to successfully expand the position of our perfumeries in Europe, in order to become one of the leading and most competent operators in each country in which we are active in,” he added.