Lucas Bols Holding B.V., the owner of brands such as Bols liqueur and Bols genever, today revealed plans to launch an Initial Public Offering (IPO) on Euronext Amsterdam.
Gross proceeds of the sale are expected to be around €125 million and will mainly be used to refinance the company and strengthen its financial position.
The Offering will primarily comprise the sale of new ordinary shares by the company and will be available to institutional and retail investors in the Netherlands and to certain institutional investors in other jurisdictions. The listing is expected to take place in the near future, subject to market conditions, said Lucas Bols.
Lucas Bols was acquired in 2000 by Rémy Cointreau before a buyout in 2006, initiated by current CEO Huub van Doorne with the support of AAC Capital.
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The planned IPO is expected to generate €125 million |
Van Doorne said: “We see the intended IPO as a logical next step in the development of our company. After our buy-out in 2006, we have developed strong market positions in Western Europe and North America and a significant presence in Asia Pacific and emerging markets. Our current main shareholder AAC Capital has supported us in our strategy to focus on brand building and innovation. The company is now fully prepared for a standalone future with an enhanced capital markets profile to support our international growth strategy. We look forward to this next step in our development.”
The Bols business dates back to 1575 and today houses more than 20 brands, sold in over 110 countries. The company says it is the largest player in the genever segment worldwide as well as the leading player in liqueurs (outside the USA). Its global brands include Bols liqueurs and Bols genever, while key regional brands include Pisang Ambon and Bokma.
The company highlighted its “focus on innovation and strategic marketing with the aim to lead developments in the cocktail market” and it noted “positive underlying market trends providing opportunities for growth in mature as well as developing cocktail markets”.
Its business model was described as “asset light” with much of its production (blending and bottling) outsourced to strategic partners.
The company said it generated strong EBIT margin and cash generation, allowing for a target dividend of at least 50% of the company’s net profits.
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Through its core brand, Bols holds a strong position in the cocktail market, which it highlights as an opportunity for future development |
