Argos-backed Maison Berger bolts on Groupe Devineau

Argos Wityu bought Maison Berger Paris, at the time known as Lampe Berger, from Azulis Capital in August 2017. The GP deployed capital from its seventh fund, Euroknights VII, which held a final close on its €520m hard-cap in November 2017.

The company sells 800,000 lamps and 5 million litres of fragrance every year through a network of 7,000 distributors in 50 countries worldwide. It employs 150 staff and generates revenues of around €50m, of which 75% comes from outside France.

Following this acquisition, the combined group will exceed turnover of €90m and employ more than 500 people. In addition, Maison Berger expects to expand into a complementary segment, enlarge its product lines and further boost its growth, while Devineau will benefit from Maison Berger's international network.

This is the second bolt-on inked by the company this year, following its acquisition of olfactory alarm clock startup Bescent in March 2019.

Company
Established in 1803 and based in Carquefou, Devineau produces a variety of candles – from household scented candles to those for religious use. The company employs 350 staff across three production sites and generates revenues of around €40m.

People
Argos Wityu – Karel Kroupa (partner).
Maison Berger Paris – Olivier Sillion (CEO).
Groupe Devineau – Francis Clément-Devineau (CEO).

Advisers
Acquirer – Jeantet & Associés (corporate finance); Eight Advisory (financial due diligence); Arsène Taxand (tax).
Vendor – Ami Capital (financial due diligence).

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• Topics
• Expansion
• France
• Consumer
• Argos Wityu
• France
• Build-up
• Buy-and-build