As part of a disposal plan, the Paris Commercial Court decided to sell the assets of Alès Groupe to Impala SAS.

WHO: Hair stylist Patrick Alès founded Laboratoires Phytosolba, a botanical haircare brand formulated with plants, in 1969. Today the Alès Groupe is the French beauty company with Phyto, Lierac, Jowaé, and Laboratoire Ducastel in its portfolio.

Impala is the investment holding company of the French entrepreneur Jacques Veyrat. With more than 2 billion euros net assets, Impala is mainly active in the energy sector as majority shareholder of Neoen, in the industrial sector through Arjo Solutions and Inexto, and in the cosmetic sector notably with its participation in Augustinus Bader. Impala invests its own capital, without time constraints, in projects with the potential to deliver profitable growth over the long term.

IN THEIR OWN WORDS: Alès Groupe said in a statement that three takeover offers had been filed in the Paris Commercial Court. They were from Impala, the Nextstone/Naxicap consortium, and Pyramides VII, a Dzeta subsidiary.

DETAILS:

• Impala purchased Alès Group for €13.5 million, approximately $15.7 million.
• Alès’ hairdressing division, which includes Franklin Roosevelt Coiffure et Beauté and its subsidiaries Laboratoires Ducastel, Alès Groupe Distribution, Boy-Diffusion, and Distri-Coiff, are to be taken over by the group’s current managers in accordance with the offer they jointly filed with Impala.
• Alès Groupe entered into administration proceedings in July. On June 30, while publishing its 2019 results, the family-owned company said at the end of May it had a cash balance of around 14.8 million euros and financial debt of about 96.8 million euros.
• The group’s sales last year gained 2.7 percent on a like-for-like basis to 208.6 million euros. Meanwhile, Alès’ profits were down 39.1 million euros in 2019, versus a decline of 15.4 million euros in 2018.
• Impala acquired Roger & Gallet from L’Oréal earlier this year. The brand is sold in the same distribution channels as Alès Groupe brands Lierac, Phyto, and Jowae.
• Ninety-seven of 102 Alès Groupe employees’ jobs are to be maintained as well its French subsidiaries for 24 months.
• Alès Groupe shares’ listing on the Euronext Growth market are to remain suspended until the company’s liquidation.
• In July of 2019 Alès Groupe took on a new minority shareholder in Co-Capital, a manufacturer and distributor of medicines and cosmetics.
• In October 2018 Alès Groupe sold the storied French fragrance house Parfums Caron, which it had owned since 1998, to Luxembourg-based Cattleya Finance S.A. for 29.9 million euros.