DGAP-News
Willkie Farr & Gallagher LLP: Willkie advises Ardian on the acquisition of ADA Cosmetics
DGAP-News: Willkie Farr & Gallagher LLP / Key word(s): Acquisition
Willkie Farr & Gallagher LLP: Willkie advises Ardian on the
acquisition of ADA Cosmetics
25.07.2014 / 14:38
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Ardian, the premium independent private investment company, announces today
that it has agreed to acquire ADA Cosmetics International GmbH from the
Carlyle Group. ADA Cosmetics is Europe's leading manufacturer of
high-quality hotel cosmetics.
This is the eighth investment from Ardian's Expansion Fund III, which
closed in March 2014 at EUR 500 million. The management of ADA Cosmetics
has again taken a minority stake in the company as part of the transaction,
which is subject to approval by the antitrust authorities.
ADA Cosmetics was founded in 1979 in Kehl, Germany. It manufactures and
sells high quality personal care products such as shampoo, body lotion and
soap for the hotel industry. Products are sold under ADA Cosmetics' own
Naturals, Pure Herbs and Hydro Basics brands including Chopard, Bulgari and
Trussardi. The business model is based on high quality standards and
longstanding customer relationships which generate repeat revenues.
ADA Cosmetics' customer base is largely three to five star hotel chains, as
well as airlines and cruise ships. Since 2010, ADA Cosmetics has grown
consistently, with sales of EUR 53 million expected in 2014. With around
300 employees and seven subsidiaries in Europe, Asia and the Middle East as
well as a global distribution network, ADA supplies nearly 15,000 customers
in more than 50 countries. The majority of sales are generated in the DACH
region and France.
Working together with Ardian, the management intends to drive the company's
growth across Europe, Asia and the Middle East. In 2013, ADA Cosmetics
secured a contract with a renowned Chinese hotel chain and generated 7% of
its sales in the Asian hotel market. In Europe the company recently entered
the UK market. In addition, Ardian and ADA Cosmetics intend to take
ad-vantage of further growth opportunities by way of a bolt-on acquisition
strategy. The product range and associated designs will be expanded, while
new distribution channels will also be launched.
Wilhelm B. Könning, CEO of ADA Cosmetics, said: "In the past four years, we
have significantly expanded our position as market leader for high quality
hotel cosmetics in Europe, achieving a market share of 35% in the key
German speaking region. Together with Ardian, we now want to strengthen our
position in the wider European and Asian markets using our innovative
products. In the medium term, we are considering establishing local
production facilities in Asia to serve markets in the region. We have
ambitious plans and are confident that we have the right partner in Ardian
to implement our growth strategy.
Dirk Wittneben, Managing Director at Ardian, added: "With its innovative
and high quality product range, ADA Cosmetics is in a strong position in
the European market and has great potential to grow further
internationally. The company's management team, which we have known and
respected for several years, has developed ADA Cosmetics into an
exceptional business over the past few years. We have full confidence in
the management and the growth strategy it has developed, which focuses both
on organic growth and targeted business acquisitions. In addition to our
financial investment, we look forward to supporting the company's expansion
with our local teams and networks in all relevant markets."
Willkie Farr & Gallagher LLP provided legal counsel to Ardian.
The Willkie team was led by Mario Schmidt (Corporate / Private Equity) and
Jan Wilms (Finance) and included the partners Rolf Hünermann (Compliance /
Antitrust), Dr. Christian Rolf (HR) and the associates Dr. Maximilian
Schwab (Corporate / Private Equity), Mario Bammann (Finance), Dr. Jan
Claudio Munoz (Corporate / Private Equity), Jochen Riechwald (HR) and
Daniel Zakrzewski (Corporate / Private Equity).
Willkie Farr & Gallagher LLP is an international law firm, comprising more
than 600 attorneys with offices in New York, Washington, Paris, London,
Milan, Rome Frankfurt and Brussels. The headquarters are in New York, 787
Seventh Avenue, Tel.: 001 212 728 8000.
Frankfurt, July 25, 2014
End of financial news
---------------------------------------------------------------------
25.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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279429 25.07.2014
Ardian, the premium independent private investment company, announces today
that it has agreed to acquire ADA Cosmetics International GmbH from the
Carlyle Group. ADA Cosmetics is Europe's leading manufacturer of
high-quality hotel cosmetics.
This is the eighth investment from Ardian's Expansion Fund III, which
closed in March 2014 at EUR 500 million. The management of ADA Cosmetics
has again taken a minority stake in the company as part of the transaction,
which is subject to approval by the antitrust authorities.
ADA Cosmetics was founded in 1979 in Kehl, Germany. It manufactures and
sells high quality personal care products such as shampoo, body lotion and
soap for the hotel industry. Products are sold under ADA Cosmetics' own
Naturals, Pure Herbs and Hydro Basics brands including Chopard, Bulgari and
Trussardi. The business model is based on high quality standards and
longstanding customer relationships which generate repeat revenues.
ADA Cosmetics' customer base is largely three to five star hotel chains, as
well as airlines and cruise ships. Since 2010, ADA Cosmetics has grown
consistently, with sales of EUR 53 million expected in 2014. With around
300 employees and seven subsidiaries in Europe, Asia and the Middle East as
well as a global distribution network, ADA supplies nearly 15,000 customers
in more than 50 countries. The majority of sales are generated in the DACH
region and France.
Working together with Ardian, the management intends to drive the company's
growth across Europe, Asia and the Middle East. In 2013, ADA Cosmetics
secured a contract with a renowned Chinese hotel chain and generated 7% of
its sales in the Asian hotel market. In Europe the company recently entered
the UK market. In addition, Ardian and ADA Cosmetics intend to take
ad-vantage of further growth opportunities by way of a bolt-on acquisition
strategy. The product range and associated designs will be expanded, while
new distribution channels will also be launched.
Wilhelm B. Könning, CEO of ADA Cosmetics, said: "In the past four years, we
have significantly expanded our position as market leader for high quality
hotel cosmetics in Europe, achieving a market share of 35% in the key
German speaking region. Together with Ardian, we now want to strengthen our
position in the wider European and Asian markets using our innovative
products. In the medium term, we are considering establishing local
production facilities in Asia to serve markets in the region. We have
ambitious plans and are confident that we have the right partner in Ardian
to implement our growth strategy.
Dirk Wittneben, Managing Director at Ardian, added: "With its innovative
and high quality product range, ADA Cosmetics is in a strong position in
the European market and has great potential to grow further
internationally. The company's management team, which we have known and
respected for several years, has developed ADA Cosmetics into an
exceptional business over the past few years. We have full confidence in
the management and the growth strategy it has developed, which focuses both
on organic growth and targeted business acquisitions. In addition to our
financial investment, we look forward to supporting the company's expansion
with our local teams and networks in all relevant markets."
Willkie Farr & Gallagher LLP provided legal counsel to Ardian.
The Willkie team was led by Mario Schmidt (Corporate / Private Equity) and
Jan Wilms (Finance) and included the partners Rolf Hünermann (Compliance /
Antitrust), Dr. Christian Rolf (HR) and the associates Dr. Maximilian
Schwab (Corporate / Private Equity), Mario Bammann (Finance), Dr. Jan
Claudio Munoz (Corporate / Private Equity), Jochen Riechwald (HR) and
Daniel Zakrzewski (Corporate / Private Equity).
Willkie Farr & Gallagher LLP is an international law firm, comprising more
than 600 attorneys with offices in New York, Washington, Paris, London,
Milan, Rome Frankfurt and Brussels. The headquarters are in New York, 787
Seventh Avenue, Tel.: 001 212 728 8000.
Frankfurt, July 25, 2014
End of financial news
---------------------------------------------------------------------
25.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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279429 25.07.2014