logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Tens of thousands of casino workers in Las Vegas voted Tuesday to authorize a city-wide strike anytime after June 1 if labor contract agreements are not reached before they expire at the end of May. This would be the first strike in more than three decades in Las Vegas and could cripple the city's famed hospitality industry. Ten former and current employees of McDonald's Corp. have filed sexual harassment complaints with the federal government against the fast food giant. The women filed the complaints with the U.S. Equal Employment Opportunity Commission or EEOC and are receiving support from Fight for $15, which is organizing the effort. The TIME's UP Legal Defense Fund is covering legal fees for the women. A bill rolling back financial regulations implemented following the 2008 financial crisis is headed to President Donald Trump's desk for his signature after being approved by the House on Tuesday. The House voted 258 to 159 in favor of the Economic Growth, Regulatory Relief, and Consumer Protection...
Follow RTT