Bait and Switch

Douglas Calls Off IPO

douglas horst ossinge picture alliance
A Douglas storefront in Düsseldorf.
  • Why it matters

    Why it matters

    Investors in Germany and abroad will be disappointed with Douglas’ decision to sell to CVC instead of heading back to the stock exchange.

  • Facts

    Facts

    • The company is owned by founding family Kreke and U.S. investment fund Advent.
    • Douglas has over 1,700 stores in 19 countries and online shops in 15 countries.
    • It could have been the largest initial public offering in Germany since Rocket Internet went public in October 2014.
  • Audio

    Audio

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In a surprise change of heart, the owners of Douglas have cancelled the planned IPO that they had announced just last week.

Instead of heading back to the stock exchange, investors CVC Capital Partners will purchase  Douglas from current owners Advent International.

Both parties involved have agreed not to disclose the price.

Last week, financial sources estimated that the retail chain could be valued at up to €3 billion, or $3.3 billion, in its initial public offering.

Douglas maintains more than 1,700 stores in 19 countries and has online shops in 15 countries. According to its own data, the chain has a market share of 17 percent and sees itself as the market leader in Europe after its takeover of French competitor Nocibé in 2014.

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