FRANKFURT Dec 23 Private equity group Apax said it has agreed to sell its direct sales company LR Health & Beauty to a private equity consortium of Bregal Capital and Quadriga Capital, Apax said late on Saturday.
No financial details were disclosed.
LR Health & Beauty, based in Ahlen, Germany, sells cosmetics, fragrances and nutrition products mainly in Germany, but also in countries including France, Italy and Russia. Some of its products are named after prominent personalities such as Bruce Willis, Heidi Klum or Michael Schumacher. It has 1,000 staff and 300,000 sales partners.
In 2011, the company posted sales of 230 million euros ($300 million). Revenues were up 5 percent in the first half of 2012, it said in August.