Vendis exits hair products business Alexandre de Paris

Following the transaction, Yagi Tsusho will hold half of the company's capital, while the other half will still belong to company founders and managers Sébastien and Fabienne Bailly.

With Vendis's backing, the firm developed its international presence with a particular focus on Asia, attaining new Honk Kong and Taiwan-based distributors. Japanese group Yagi Tsusho intends to pursue this development.

Other changes included developing the group's digitalisation, and the development of its travel retail activity within airports.

The GP did not divulge its returns, but told unquote" the group had witnessed a steady double-digit growth during its holding period. 

Previous funding
Vendis took a minority stake in Alexandre de Paris in March 2013, investing more than €10m. Traditionally focused on the Benelux region, the firm invested in the French company via its maiden fund, which closed on €111.5m in late 2010. The deal was the sixth investment made with the vehicle, and the first one in France. The firm's buyout was led by Bailly Group, which had been the exclusive licensee of the brand prior to the transaction. 

Leverage was provided by Banque Populaire and Oseo for the transaction.

Company
Based in Paris and founded in 1971, Alexandre de Paris manages hairdressing salons and produces a range of hair care products and related accessories.

The brand has stores in Paris, London and Honk Kong, and has a network of distributors across Europe, Asia and South America. It registered €40m in sales for 2015.

People
Vendis Capital – Cedric Olbrechts, Jean Cailliau (partners); Mathieu de Medeiros (investment director).

Advisers
Company – Piotraut Giné Avocats, Raphaël Piotraut (legal).
Imvestor – DS Avocats (legal).
Vendor – Kalliopé, Tanguy d'Everlange (legal).

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• Topics
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