Douglas plans to float IPO worth 1.1 billion euros

The Douglas Group, together with its shareholder Kirk Beauty International, is preparing for an initial public offering (IPO) on the Frankfurt Stock Exchange.

Kirk Beauty is a holding company majority-owned by funds advised by global private equity firm CVC Capital Partners as well as the Kreke family.

The company said in a statement that the IPO and listing could be completed in the first quarter of 2024.

Commenting on the IPO plan, Sander van der Laan, CEO Douglas Group, said: “Our IPO is the logical next step for us to leverage our full potential in the future as a publicly listed company. Driven by our highly motivated team, Douglas Group is ideally positioned to further capitalise on the large, resilient and growing European premium beauty market.”

The offering would comprise a public offering to individual and institutional investors in Germany as well as international private placements. The company targets an equity contribution of around 1.1 billion euros, consisting of the targeted IPO primary proceeds and an additional equity injection of around 300 millions euro from the current shareholders.

Douglas expects that the IPO would accelerate the debt reduction and decrease the interest expenses of the company, thus enlarging the financial flexibility of the group and its further value creation.

The company added that following the completion of the IPO, CVC Capital Partners and the Kreke family will remain indirect shareholders of the company and they will not sell any shares at the IPO.