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
Japanese electronics maker Panasonic Corp. is in talks to buy Austrian headlight manufacturer ZKW Group GmbH, Nikkei business daily reported Monday, citing a person familiar with the matter. As per the report, both companies could reach a basic agreement as early as this month for a deal that could be worth up to $1 billion. Netflix offers a bunch of popular movies, Netflix originals, new TV shows, and documentaries in the month of December 2016, including the second season of the hit sitcom 'Fuller House' and 2016 blockbuster 'Captain America: Civil War', as all are getting ready for the holidays. SpaceX, the space transport company of Tech entrepreneur Elon Musk, is likely to launch its first Falcon 9 rocket since September's launchpad explosion on December 16. SpaceX's satellite launch customer Iridium Communications Inc. announced Thursday that its next-generation global satellite constellation, Iridium NEXT, will be launched on SpaceX's Falcon 9 rocket.
comments powered by Disqus
Follow RTT