LR Health & Beauty Systems GmbH (“LR”), one of Germany’s leading direct sales enterprises for body care and beauty products, was sold to Aloco Beteiligungsgesellschaft mbH, a consortium of Bregal Capital and Quandriga Capital. In November 2004, Apax Partners had invested in LR and gradually acquired a majority stake in the company. After a revision of LR’s corporate strategy, followed by the internationalisation of the business model and an impressive expansion in the number of products and sales partners, the Apax Funds now reached an agreement to sell LR. The parties agreed not to disclose the sale price. International law firm Milbank, Tweed, Hadley & McCloy LLP advised Apax Partners on the sale with regard to corporate, finance and antitrust law.
Apax Partners was advised on the transaction by partners Peter Memminger (Corporate/M&A, Frankfurt, lead), Alexander Rinne (Competition/Antitrust Munich), of counsel Anthony Morton (Finance, Frankfurt), and associates Thomas Tiedemann and Markus Messinger (both Corporate/M&A, Frankfurt) and Christoph Kahle (Competition/Antitrust, Munich).
