Dessange expands with help from private equity firm
OFI Private Equity Capital has acquired 65 per cent of the share capital of the France-based hair care and beauty salon brand.
This significant investment will allow the group to expand, opening new franchised salons and expanding its product range.
Group founder Jacques Dessange will remain a 20 per cent shareholder and the strategic advisor to the management team.
The remaining 15 per cent of the share capital will be held by the management team of Benjamin Dessange, Bernard Sagon and Frédéric Moreno.
According to OFI, the group was valued at nearly €80m giving a transaction value of €52m. Turnover for the group was €55m in 2007.
Currently, Dessange International operates three salon brands, Dessange, Camille Albane and Frédéric Moreno and has a hair care franchising network of more than 1,000 salons, 40 per cent of which are found outside France.
In addition, the group has recently expanded out of hair care and into the world of beauty with a range of make-up and beauty care products under the Dessange brand.
International expansion plans
With the help of the private equity firm, the Dessange group will expand and develop its business both in France and internationally.
“With the support of our new financial partner OFI Private Equity Capital, Bernard Sagon, Frédéric Moreno and myself will implement our ambitious strategic plan. This plan relies on a dynamic expansion of our franchise network in France and throughout the world, as well as the worldwide launch of our different ranges of products,” said managing director of the group Benjamin Dessange.
In a statement to French news agency Agence France Presse (AFP) the president of OFI Private Equity, Capital Olivier Millet, highlighted the importance of expanding the brand internationally.
“The plan is to accelerate international development, notably in Asia where the group is not yet present, but also in the US where it remains undeveloped” he said.
Millet also told the AFP that the private equity firm plans to be involved with Dessange International for between 5 and 10 years.
