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French beauty retailer LOccitane attracts new bids

December 15, 2018

 

LOccitane is believed to have attracted bids from global private equity firms such as Advent International, according to the Financial Times. This raises the prospect of bidding to take over a $ 2.7 billion market.

It aims are celebrates and preserves the traditions of the native Provence / Ph. Pinterest

Expansion along with variation in profitability

LOccitane is an international retailer of body, facial, perfume products and household appliances based in Manosque, France. The company was founded in 1976 by Olivier Baussan. It aims are celebrates and preserves the traditions of the native Provence.

Interest from Advent International is thought to be just one of the likely gains on LOccitane, valued at $ 2.7 billion, with rivals showing interest in bidding the company as well as acquisition funds and peers. Profit after eight years when LOccitane originated in Provence in southern France, listing its shares in Hong Kong after joining the wave of upstream brands pursuing Asian consumers.

Although it is unclear whether there is a formal sales process or if Advent will offer a formal bid, there are some who are considering it soon.

Two direct knowledgeable people have confirmed Advents interest about the acquisition group based in Boston and London. Competitors can follow the benefits of the company as private equity, cash, and hunts for opportunities.

If the acquisition process is successful, it will allow any new owner to be present on the welfare and natural market.

Earlier this week, LOccitane reported sales rose 4.9% to 595.4 million euros in the six months to 30 September. Its sales growth was led by the United States United, Hong Kong, and China.

The Group reported operating profit of € 5.8 million during this period, down 57.8%, while net profit fell to € 5.6 million, down 47.9%, driven mainly by investments. Shares of this beauty retailer fell 8% in trading in Hong Kong on Tuesday after the results. They have increased by 1.5 percent this year.

The next move of the company will be? Get wait and see.

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