German perfume chain Douglas wants to launch an IPO later this year, three years after it was taken off the stock exchange when American Advent International acquired the company.
Founders remain involved
When Douglas launches its IPO, its Advent shares will go on sale, with another 70 million euros' worth of shares. The Kreke family, founders of the company, will remain involved in its future endeavours, but it is unclear how many shares the family will keep.
In the period since its stock exchange removal, it bought the French Nocibe chain and sold the Christ jewelry chain to 3i Group. The Kreke family currently has some 20 % of all shares.
"Since our de-listing, we’ve successfully transformed from a diversified retailing group operating mainly in Germany into an international chain focused on perfumes", CEO Henning Kreke said.