DGAP-News: Willkie Farr & Gallagher LLP / Key word(s): Acquisition
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

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25.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG.
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279429 25.07.2014