3G acquires 75% stake in Hunter Douglas at EUR 6.27bn valuation

The transaction implies an enterprise value for Hunter Douglas of approximately EUR 6.27bn. The Sonnenberg Family will continue to hold a 25% interest in the new holdco, while 3G will pay all other minority shareholders the same share price for their remaining stock.

Current Hunter Douglas group co-president and co-CEO David Sonnenberg will transition to executive chair of the board of directors after the closing of the transaction, expected to complete in the first quarter of 2022.

João Castro Neves, a senior partner at 3G, is expected to serve as the company's CEO. Castro Neves has experience in consumer-facing companies growing global and local brands in both emerging and developed markets.

Company
Headquartered in Rotterdam, the Netherlands, Hunter Douglas is a manufacturer of window coverings and a provider of architectural services. It has offices in 100 countries worldwide and employs 23,000 people, according to its website.

According to its H1 2021 financial report, the company recorded USD 2.2bn in turnover in the six months to 30 June 2021.

The company expects to record Q4 EBITDA of USD 195m–205m, according to a statement.

Advisers
Vendor – Credit Suisse (financial due diligence); De Brauw Blackstone Westbroe (legal); White & Case (legal); Loyens & Loeff (tax).
Management – Rabobank (financial due diligence); DLA Piper (legal); Spigt Dutch Caribbean (legal).
Equity – Lazard (financial due diligence); JP Morgan (financial due diligence); Morgan Stanley (financial due diligence); Paul Weiss (legal); Stibbe (legal); Kirkland & Ellis (legal).

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