Bridgepoint in talks to buy La Gardenia

Though is as yet unknown how much the UK-based investor is prepared to pay for the firm, or what it plans are should its bid be successful, sources have claimed that a merger of La Gardenia with Limoni (another Bridgepoint portfolio company) appears likely. Such a combination would see Limoni's 450-strong store network joined with La Gardenia's 150 perfume shops, thereby creating a formidable player in the Italian market.

Led by Lucio Ranaudo and Emanuele Lembo respectively, L Capital and Ergon jointly acquired a 70% stake in La Gardenia from the Croci family in July 2006. Banca Intesa provided the debt financing. Though the founding family initially retained the remaining 30%, the private equity firms upped their share to 100% in 2007. Their growth plans included the expansion of the company's shop network into shopping centres and improvement of its marketing strategy.

Based in Grosseto, La Gardenia was founded in 1976 and employs around 400 staff. It specialises in the retail of fragrances, beauty and personal care products, with shops in most of the Italian territory and a high concentration of branches in Tuscany.

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Bridgepoint