The Service of the Commission for the Protection of Competition has received a notification of a concentration concerning the acquisition of the share capital of Artessence FZC and EURO Parfums FZE by Advent International L.P., via Al Mansart (Luxembourg) Bidco SCS.
Advent International L.P. is a company duly registered under the laws of Delaware, United States of America. Advent is active in private equity investments and fund management. Advent focuses on: (i) the acquisition of equity stakes (both controlled and non-controlled) in companies in which it considers that a capital injection would improve its future growth prospects; and (ii) the management of investment funds.
Al Mansart (Luxembourg) Bidco SCS is a company duly registered under the laws of Luxembourg. Al Mansart is a special purpose vehicle, with no prior business activities, established to act as an acquisition vehicle for the purposes of this transaction. This company is controlled by Advent International L.P.
Artessence FZC and EURO PARFUMS FZE are companies duly registered under the laws of the United Arab Emirates and belong to the same group of companies (the Target Group). The Target is active in the distribution of luxury perfumes under the brands, "Parfums de Marly" and "Initio Parfums Privés", globally through retailers, which are selected boutique stores and online through the online store of each brand.