Apax and LBO France to sell Maisons du Monde
Apax France- and LBO France-owned furniture stores chain Maisons du Monde is up for sale in a process run by investment banks Lazard and Messier Maris, according to reports.
The sale process is expected to start later this month, according to Reuters. Reports say the enterprise value could reach at least €700m.
When Apax and LBO France acquired control of Maisons du Monde in 2008, the company was valued at €435m. The private equity firms each own 35% of the French furniture chain.
Potential bidders include Steinhoff International, the South African furniture retailer that recently bought French retailer Conforama.
Boutique investment bank Messier Maris is controlled by ex-Vivendi chief executive Jean-Marie Messier, who is also a former Lazard banker.
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