LLG ANNOUNCES SALE OF LIMONI AND LA GARDENIA TO DOUGLAS, FORMING THE LEADING PLAYER IN THE ITALIAN BEAUTY SECTOR
Milan, Italy, May 18, 2017 – Limoni S.p.A. (“Limoni”) and La Gardenia Beauty S.p.A. (“La Gardenia”), together operating as Leading Luxury Group S.r.l, (“LLG”), today announced that they have agreed to be simultaneously acquired by Profumerie Douglas S.p.A., the Italian subsidiary of Douglas GmbH (“Douglas”) from a group of investors led by the private equity firm Orlando Italy Management SA (“Orlando Italy”).
LLG operates the largest beauty and perfumery network in Italy, with approximately 500 locations across all regions, providing high-end beauty products and beauty services to over 40 million visitors annually.
“Today’s transaction represents the successful culmination of our efforts over the last four years to combine, strenghten and expand the retail networks and operations of Limoni and La Gardenia. We believe that LLG will greatly benefit from a combination with Douglas to offer a best-in-class customer experience in the Italian market”, said Enrico Ceccato, Managing Partner of Orlando Italy.
Fabio Pampani, CEO of LLG said “With Douglas, we have found the ideal partner for LLG. Becoming part of this industry-leading player in Europe will provide us with the financial and operational resources needed to further develop our business and meet today’s customer needs.”
Closing of the transaction is subject to customary conditions including merger control approval. The companies involved have agreed not to disclose financial details.
CapM Advisors served as exclusive financial advisor to Orlando Italy, as well as Limoni, La Gardenia and LLG, with Gatti Pavesi Bianchi Studio Legale Associato serving as legal advisor to Orlando Italy.
LLG is the largest luxury beauty retail organization in Italy. Created in 2013 as a result of the combination between Italy’s two main beauty retail chains, Limoni and La Gardenia, the company operates approximately 500 stores all across the country, providing a wide range of beauty products and a full range of beauty services to over 40 million visitors annually.
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