Groupe Rocher is acquiring 66% of Sabon for $129 million with the option and expectation to acquire full control of the company.
WHO: Sabon is the brainchild of Avi Piatok and Sigal Kotler Levi. The first store opened in Tel Aviv in 1997 and has grown to an international network of 175 locations. Each of the stores looks identical and carries the same assortment of products that are developed and manufactured in the company’s facilities outside Tel Aviv.
Groupe Rocher is 97% owned by its founding Rocher family. It has eight brands in its portfolio, Yves Rocher, Petit Bateau, Stanhome, Dr Pierre Ricaud, Daniel Jouvance, Kiotis, ID Parfums, and Flomar. Nearly three quarters of its sales are generated in France and Western Europe
WHY: Groupe Rocher is buying control of the company to bolster its global capabilities and accelerate its overseas expansion.
IN THEIR OWN WORDS: Groupe Rocher CEO Bris Rocher said, “Buying the controlling stake in Sabon matches our international growth aspirations. Our extensive knowledge in the company’s different fields of operation, together with strong cooperation with Sabon’s staff, will help both the company and Groupe Rochet to grow worldwide.”
- Groupe Rocher is acquiring 66% of Sabon for $129 million.
- Sigal Kotler-Levi and Avi Piatok, Sabon’s founders will stay on in their current roles and maintain substantial stakes in the company.
- Rocher has an option and is expected to acquire full control of the company.
- Groupe Rocher was represented in this deal by Adv. Michelle Liberman and Amit Steinman from the S. Horowitz & Co. law firm.
- Sabon was represented by Adv. Nir Calderon.
Read more about the transaction in Haaretz.