logo
Share SHARE
FONT-SIZE Plus   Neg

Apax Funds To Sell LR Health & Beauty Systems To A Consortium; Terms Undisclosed

Funds advised by Apax Partners said Sunday that they have reached an agreement to sell LR Health & Beauty Systems to a consortium. The consortium consists of private equity firms Bregal Capital and Quadriga Capital.

LR Health & Beauty Systems markets cosmetics, personal hygiene products, dietary supplements, perfumes and jewellery through the direct sales channel. The new shareholders will support LR Group in expanding its national and international activities.

The transaction is subject to approval by the relevant anti-trust authorities. The parties agreed not to disclose the sale price.

Apax Funds bought into LR in November 2004, and then gradually acquired a majority share. During the period of the Apax Funds' investment, LR's sales rose from around €180 million (2004) to approximately €230 million (2011). Between 2004 and 2012 the number of sales partners increased from about 190,000 to about 300,000. The number of staff increased from circa 570 to around 1,000.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday said its first-quarter profit rose 6 percent from a year ago, driven largely by higher revenues. Shares of the company slipped over 6 percent in the after-hours trading, hurt by weak futures orders. Beaverton, Oregon-based... Germany, a clean-power trendsetter country, is planning to introduce hydrogen powered trains. The environment friendly "Coradia iLint" long distance passenger hydrails are expected to be operational by the end of 2017. Rogers Communications Inc. and Shaw Communications Inc. are shutting down Shomi, the subscription video-on-demand service run by the two Canadian companies. Shomi said it will shut down operations on November 30, 2016, just two years since its launch. Shomi was viewed as a Canadian competitor to Netflix.
comments powered by Disqus
Follow RTT