German cosmetics retailer Douglas is final bidder for French rival Nocibe: report

German cosmetics retailer Douglas Holding AG, is the final bidder for French perfume and cosmetics retailer Nocibe SA, Bloomberg today reported, citing people with knowledge of the process.

Nocibe, owned by British private equity firm Charterhouse Capital Partners, may be valued at about €500 million ($650 million), said the report.

LBO France has yet to submit a final offer, although it may still do so, the report added.

Private equity firm Advent International and the Kreke family, had acquired Douglas last year for €1.5 billion and had said that it would spend €500 million to grow its perfumeries business through acquisitions.

Charterhouse, which had bought Nocibe from Bridgepoint Advisers in 2006 for €490 million, is weighing a refinancing of the perfume and cosmetics retailer's debt and may even hold on to the company rather than sell it, one of the people told Bloomberg.

A successful bid by Douglas would make Nocibe the second-biggest perfume chain in France, behind LVMH-owned Sephora.

Founded in 1984 by Daniel Vercamer and based in Villeneuve d'Ascq near Lille in France, Nocibe sells over 10,000 products and 170 brands of perfumes, beauty and makeup products and accessories through 455 stores, of which nearly 80 per cent have beauty salons.

It employs around 3,000 people and had 2012 sales of €680 million, according to its website.

Hagen, Germany-based Douglas is a perfume, book, jewelry and confection retailer with more than 1,900 stores, more than 1,500 of which are located in Germany, Europe and the US.

The company operates perfume and cosmetics retail stores under its own brand name, books under Thalia, jewellery under Christ, women's clothing under AppelrathCüpper and confectionery  under Hussel.