Advent Seeks Buyer for Douglas

PARIS — Douglas, one of the biggest perfumery chains in Europe, could change hands soon, perhaps by midsummer. The German retailer has been put on the block, said Isabelle Parize, general manager of Southern Europe at Douglas Group and chief executive officer of Nocibé, which was acquired by Douglas in February 2014. Speaking at a press conference here Thursday, she said Douglas’ valuation is upward of 10 times its earnings before interest, taxes, depreciation and amortization, which in 2014 was more than 300 million euros, or $398.9 million at average exchange for the year. That values Douglas at more than 3 billion euros, or $3.25 billion at current exchange. “The shareholders would like to exit,” said Parize, confirming reports that circulated in March. Private equity firm Advent International acquired an 80 percent stake in Douglas in 2012 and is seeking to get out of the firm definitively. Under Advent, Douglas Group has been busy spinning off noncore assets. Last year it sold the Hussel confectionary business and Christ jewelry chain. The German press has speculated that Thalia, the group’s book retailer, and AppelrathCüpper, its fashion chain, are also headed for divestment, as Douglas is focused ever more tightly on its perfumery activity. Meanwhile, Douglas’ founding Kreke

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