Bayside sells Bodybell to CVC's Douglas

CVC did not provide capital to support the transaction, a source close to the situation told unquote".

The German beauty and care retailer opened its first perfumery in Spain in 1995, and currently manages 58 stores with 300 employees in the country, with 1,700 stores globally and a headcount of 18,000. In 2016, the business posted a turnover of €2.7bn.

Previous funding
Bayside originally bought into the company's debt in 2009 and subsequently took a controlling stake in the business in 2015 as a result of a debt-for-equity swap.

Following the conversion, the GP boosted Bodybell's expansion via a capital injection that allowed the company to adjust its store portfolio, hire a new management team and launch a new brand image, according to a statement.

CVC acquired German beauty product retailer Douglas from Advent International in June 2015. The Kreke family, which manages the business, reinvested for a 15% stake as part of the reported €2.8bn deal. Advent had acquired Douglas via a public tender offer in 2013, in a deal valuing the business at around €1.5bn.

Company
Founded in 1970 and based in Madrid, Beauty Bell Chain distributes perfumery and household products across the Spanish market through its brand Bodybell. According to local press reports, the company manages 200 stores in Spain and two online marketplaces.

People
HIG Bayside Capital – Giuseppe Mirante (managing director); Leopoldo Reaño (principal).
Douglas Holding – Isabelle Parize (CEO).

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