Herter & Co. – A Teneo Company – successfully advised the Douglas AG (“DOUGLAS Group”) on its post-IPO financing with a total volume of 1.6 billion euros. Europe’s number one omnichannel premium beauty destination completely redeemed its existing financial indebtedness with the new financing and the proceeds from the IPO. As a result, the company reduced its net debt by one billion euros and significantly improved its financial flexibility.
Thomas A. Woelk, Director Group Treasury DOUGLAS Group: “The new financing is a milestone for us and reflects the strong collaboration over the past few months. In addition to the several loan tranches, which give us flexibility in a potentially falling interest rate environment in the medium term, we have also secured very good conditions and thus greatly expanded our financial stability. Herter & Co. provided valuable support throughout the transaction process – including advice on the suitable financing structure, selection and approach of financing partners and negotiation with the banks.”
The new syndicated loan consists of a revolving credit facility, a term loan, and a bridge facility, and is provided by a diversified syndicate of 15 national and international banks. The new financing was signed on 8 March 2024. It also includes a so-called “ESG Rendezvous-Clause” which allows the direct link of the interest margin to specific sustainability KPIs (to be defined between the syndicate banks and the DOUGLAS Group).
The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment of products online and in around 1,850 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective, exclusive and corporate labels. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy, “Let it Bloom – DOUGLAS 2026.” The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2022/23, the DOUGLAS Group generated sales (net) of 4.1 billion euros and employed around 18,000 people across Europe.
Herter & Co. – A Teneo Company – advised the DOUGLAS Group as sole debt advisor.
