The Italian Competition Authority starts a phase II investigation into a merger in the retail cosmetic sector
The Italian Competition Authority (ICA) has opened a phase II investigation into the acquisition of La Gardenia and Limoni by CVC (Case C12109, Profumerie Douglas/La Gardenia Beauty-Limoni ). CVC Capital Partners SICAV-FIS SA (CVC) is a private equity firm that provides advice and investment management services on behalf of collective investment funds. CVC owns Profumerie Douglas (Douglas) that is a retailer of cosmetics and perfumes and related products and services. La Gardenia Beauty Spa (La Gardenia) and Limoni Spa (Limoni) are owned by Orlando Italy Special Situation SICAR Sca (Orlando) and both of them are active in the retail distribution of perfumes and cosmetics. Through sale and purchase agreements concluded by Douglas and Orlando, CVC will acquire indirect and sole control of La Gardenia and Limoni. Because the proposed transaction met the jurisdictional thresholds in the EU Merger Regulation no. 139/2004 (EUMR), it had an EU dimension and was duly notified to the Commis