FRANKFURT/DUESSELDORF (Reuters) – Private equity group CVC Capital Partners is exploring options for German perfume and cosmetics retailer Douglas, three people close to the matter said.
The buyout firm is working with Goldman Sachs (GS.N) on a potential initial public offering or a sale, they said on Thursday. No decision is imminent, and any stock market listing would unlikely happen before the second half of the year, they added.
CVC and Goldman Sachs declined to comment, while a Douglas spokeswoman said any decision was up to the owner.
CVC in 2015 bought a majority stake in the retailer from U.S. buyout firm Advent in a deal worth almost 3 billion euros ($3.26 billion) at the time. Advent delisted the loss-making chain from the Frankfurt stock exchange in 2013.
In its fiscal year 2018/2019, Douglas generated a profit of 17 million euros on revenues of 3.5 billion euros after a loss of 290 million euros in the year before. Adjusted earnings before interest, tax, depreciation and amortization stood at 351 million euros that year.
The company, which operates 2,400 brick-and-mortar stores in 26 European countries, is increasingly focusing on online sales.
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