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
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT