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Douglas Holding

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Douglas Holding AG
Company typeAktiengesellschaft
IndustryRetailing
Founded1971
Defunct2017
FateAbsorbed by subsidiary Douglas GmbH
Headquarters
Düsseldorf
,
Germany
Area served
Europe
Key people
Dr. Henning Kreke (Chairman)
Revenue€3.44 billion (2012)[1]
−€89.1 million (2012)[1]
−109.9 million (2012)[1]
Total assets€1.528 billion (2012)[1]
Number of employees
24,221 (2012)[1]
Websitedouglas-holding.com

Douglas Holding was a German retail group based in Düsseldorf which included subsidiaries perfumery chain Douglas GmbH, confectionery chain Hussel, bookstore chain Thalia Buchhandel and women's fashion store chain AppelrathCüpper.[2] After the takeover by financial investor Advent International, Douglas Holding was delisted in 2013[3] and the conglomerate was gradually split into its individual companies.

In June 2015, CVC Capital Partners agreed to purchase the controlling stake in the company from Advent International in a deal which reportedly valued Douglas at around 2.8 billion euros.[4]

On 20 March 2017, Douglas Holding AG was dissolved by merging with Douglas GmbH.[5]

History

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Share of the Douglas Holding AG, issued June 1989

The roots of the company date back to 1821, when the perfume and soap factory J.S. Douglas Söhne was founded in Hamburg. In 1863, the first Christ subsidiary was founded. In 1910, the first Douglas perfumery was opened in Hamburg. The actual predecessor of the Douglas Holding AG, the Hussel Süßwarenfilialbetrieb GmbH, was founded in 1949, and transformed into a joint stock company in 1962. In 1969, it acquired the Parfümerie Douglas, which soon became the main pillar of the corporation, which became known as Hussel Holding AG in 1976. In 1989, the company changed its name to Douglas Holding AG.

In December 2012, Advent International led a public-to-private buyout of Douglas in a deal worth 1.5 billion euros.[6] The deal was successfully managed by board members Henning Kreke (CEO) and Burkhard Bamberger (CFO). The Kreke family that founded Douglas retained a twenty percent stake in the company.[7]

Advent International refocused Douglas on its primary perfume and cosmetics lines, spinning off the company's other brands: Confectioner Hussel was sold to Emeram Capital Partners in March 2014.[8] Jewelry retailer Christ was sold to 3i Group in October 2014.[9] Womanswear retailer AppelrathCüpper was sold to OpCapita in May 2016.[10] Book retailer Thalia was sold to the Herder family, a German family of publishers, in July 2016.[11] Douglas bought French Perfumery Chain Nocibé in 2014.[12]

References

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  1. ^ a b c d e "Annual Report 2011/2012". Douglas Holding. 2 October 2013. Archived from the original on 2 October 2013.
  2. ^ "Wird Douglas zerlegt?" (in German). wiwo.de. Retrieved 4 December 2013.
  3. ^ "Douglas sagt der Börse nach 50 Jahren Ade" (in German). manager-magazin.de. Retrieved 28 May 2013.
  4. ^ Frankfurt, Eyk Henning in; London, Shayndi Raice in (2015-06-01). "CVC Capital Buys Cosmetics Retailer Douglas". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-10-05.
  5. ^ "Merger: Douglas GmbH". northdata.com. Retrieved 20 March 2017.
  6. ^ WW, FashionNetwork com. "Advent acquires 76% of German perfume retailer Douglas". FashionNetwork.com. Retrieved 2023-02-26.
  7. ^ Cruz, Julie; Kirchfeld, Aaron (2012-10-15). "Advent Offers $1.9 Billion to Buy Beauty Retailer Douglas". Bloomberg.com. Retrieved 2016-10-05.
  8. ^ "CORRECTED-Douglas sells Hussel sweet shop chain". Reuters. 2017-03-11. Retrieved 2016-10-05.
  9. ^ "UPDATE 1-Buyout group Advent sells Christ jewellery stores to 3i". Reuters. 2016-10-27. Retrieved 2016-10-05.
  10. ^ "OpCapita buys leading designer womenswear retailer AppelrathCüpper | Advent International". www.adventinternational.com. 31 May 2016. Retrieved 2016-10-05.
  11. ^ "Advent sells book retailer Thalia to German publishers family". Reuters. Archived from the original on July 12, 2016. Retrieved 2016-10-05.
  12. ^ "Douglas Corporate: History". corporate.douglas.de (in German). Retrieved 2018-06-06.
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