Transaction Details

September 3, 2015
Frankfurt, London

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Value

N/D

Deal Team

Christopher Jones, Sascha Pfeiffer, Oliver Vaughan, Laura Meaden, Octavia Wayne

GCA Altium advises on the sale of Pacific Direct to ADA Cosmetics International

GCA Altium acted as exclusive financial adviser to the shareholders of Pacific Direct on the sale of the Company to ADA Cosmetics International.

Pacific Direct is the leading manufacturer and supplier of branded guest amenities to the global luxury hospitality market. Its ‘Brand Boutique’ provides a portfolio of exclusive branded amenities, including Asprey, Elemis, Acqua di Parma, Penhaligon’s, Annick Goutal and Lalique, to luxury hotels, cruise operators and airlines into 130 countries across the globe. Pacific Direct is headquartered in London, with on-the-ground operations in seven countries spanning Europe, North America, the Middle East and Asia. Established in 1991, Pacific Direct was acquired by Primary from its founder in 2008.

Based in Kehl, Germany, ADA Cosmetics is a leading international manufacturer of high quality hotel cosmetics and accessories. It is backed by Ardian, the independent investment company.

The transaction follows the 2014 management buyout of ADA Cosmetics backed by ARDIAN, a transaction on which GCA Altium advised the previous owners, The Carlyle Group. ADA is the largest supplier of amenities to hotels in Europe, with a growing presence in Asia and the Middle East.

Sascha Pfeiffer, Managing Director at GCA Altium, commented, “Together Pacific Direct and ADA Cosmetics will be the foremost amenities specialist worldwide with an unrivalled brand portfolio and a joint customer base of over 25,000 hotels and hospitality providers. The acquisition will create cost and growth synergies while leveraging the global footprint and expertise of both companies to further increase penetration into the Asian and US markets.”

Christopher Jones, Managing Director at GCA Altium, added, “It has been a pleasure to work with Primary Capital and the Pacific Direct management team. In recent years they have driven the immensely successful growth of Pacific Direct and this transaction creates a compelling opportunity for the combined businesses to consolidate their market leading position globally.”

Alec Parkinson, Partner at Primary Capital, said, “GCA Altium’s knowledge and understanding of the market, in addition to their cross border capabilities, made them the stand-out adviser for this transaction. The team were exceptional and we are delighted to have achieved such a successful exit to a strategic acquirer.”

This transaction reinforces GCA Altium’s position as a leading European corporate finance adviser in the hospitality and luxury goods sectors, having advised on the sales of ADA Cosmetics, Ulysse Nardin and mytheresa.com over the last year. The deal represents GCA Altium’s 18th crossborder transaction to date in 2015.

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