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
German business software maker SAP AG on Tuesday reported lower profit in its first-quarter mainly due to higher expenses, despite higher revenues. Further, the company reiterated its outlook for fiscal year 2017. Luka Mucic, CFO, said, "We're off to a good start to reach our full year targets and we are confident that we will grow our profitability in 2018 and beyond." Fresenius Kabi announced it has agreed to acquire Akorn (AKRX), a U.S.-based manufacturer and marketer of prescription and over-the-counter pharmaceutical products, for approximately $4.3 billion, or $34.00 a share, plus the assumption of approximately $450 million of debt. Akorn's largest shareholder,... Uber has been reportedly tracking user's phones, even after deleting the app. However, the company now assured that it would not continue with such tracking anymore.
comments powered by Disqus
Follow RTT