Naxicap, Impala make bids to acquire Ales

Naxicap is offering to pay €12.45m for the acquisition of the entirety of Ales, and would retain 95 employees, according to the report.

Naxicap has made the bid alongside Nextstone Capital, a family office. Naxicap provides tickets of €50-200m for majority stakes, which represent 80% of its portfolio of investments. It manages €3.1bn for Groupe BPCE, which is a 33% stakeholder, and global institutional investors, which own the remainder.

Impala is offering €13.5m and has agreed to sell back Ales' Ducastel subsidiary, which specialises in hairdressing products, to its managers. It would retain about 90 employees.

Ales was put into receivership by the Commercial Court of Paris in July 2020. The court appointed FHB and SCP BTSG as administrators.

The company's market capitalisation stood at €17.1m as of 29 June. Ales reported net losses of €39m on revenues of €208.6m in 2019. The company owed a financial debt of €97m and had €15m cash available only at the end of May 2020.

The Ales family holds a 78.6% stake via the holding Avila.

Founded in 1969, Ales is a hair products, cosmetics and fragrances producer based in Paris.

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