PARIS — France’s competition authority said Thursday that it will examine the possible takeover of Nocibé perfumery chain by Advent International, the parent of Douglas Perfumeries, among other holdings.
The French authority said the operation risks significantly affecting competition of the sale of luxury fragrances and cosmetics in about 185 local markets.
The companies had requested that France’s competition authority oversee the study. The European Commission had first been charged with the task, but decided on Dec. 16 that the French authority is better placed to spearhead the operation.
As reported in October, Douglas Holding AG was in exclusive talks to take over French perfumery chain Nocibé from Charterhouse Capital Partners.
The acquisition would create the largest perfumery chain in France doors-wise, consisting of 625 stores with approximately 4,000 employees. The perfumery chain would place second in sales.
The transaction was being conducted jointly by members of Douglas’ founding family Kreke and Advent International, which together took over and delisted Douglas Holding from the stock exchange earlier this year.