FFP sold its stake in DKSH, a leading Swiss market expansion services group with a focus on Asia, i.e. 3,820,000 shares representing 5.9% of the company’s capital. The disposal took place at CHF 55.75 per share, making a total of CHF 212 million.
In 2008, FFP joined forces with DKH, the long-standing family shareholder owning the majority of DKSH’s shares, in a transaction that involved certain shareholders selling their stakes and DKSH carrying out a capital increase. FFP invested €85.4 million to acquire a 11% stake in the company. In line with the plan at the time of its investment, FFP supported DKSH when it was listed on the stockmarket in 2012. Since 2008, DKSH’s operating income has more than doubled, driven in particular by growth in consumer spending in Asia.
FFP has achieved a total investment multiple of 4,3x on DKSH.
Commenting on this investment, Robert Peugeot, Chairman and CEO of FFP, said: “FFP has fulfilled its role as a long-term shareholder by supporting for 11 years the development of this family-controlled group, which has been benefiting from growth in Southeast Asia.
Our investment in DKSH is a good illustration of FFP’s strategy to support growing companies over long periods of time, while realising progressive asset rotation and creating value for its shareholders.”