Douglas Group and Advent International make voluntary takeover offer for Douglas Holding AG

Following last month’s confirmation that it was entering takeover talks, the Douglas Group’s founder, the Kreke Family, and Advent International intend to make a voluntary takeover offer for all shares in Douglas Holding AG. They will do this through Beauty Holding Three AG, a holding company, which is held indirectly through funds advised by Advent International.

Both Advent and the Kreke family have accordingly stated that the acceptance of 50.5% of the share of the share capital of Douglas Holding AG has already been secured. The Kreke family, as well as the major shareholders Oetker and Müller, have made a binding commitment to accept the offer at the announced price and to sell their shares. With execution of the public tender offer the Kreke family will become an indirect 20% shareholder in Beauty Holding Three. The remaining shares are held by funds advised by Advent International.