CVC makes fourth Danish investment(2)

European private equity firm CVC Capital Partners has made its fourth investment in Denmark with the acquisition of health and beauty retail chain Matas.

CVC Capital Partners has bought Matas, a Danish health and beauty retail chain, for an undisclosed amount. Matas operates 292 stores and generated sales of €390 million in 2006. The firm is leading the private equity consortium that is considering a bid for Sainsbury’s.

Matas was previously a co-operative, all of its stores being owner-operated. CVC has acquired 206 stores from about 125 store owners and has entered into conditional agreements to acquire an additional 45 stores during the next three years.

The private equity firm’s other deals in Denmark include the 2005 acquisition of Post Danmark, the country’s national postal operator, and the 2003 acquisition of DT Group, the largest retailer of building materials in the Nordic region. CVC’s first investment in Denmark was the 1997 acquisition of computer equipment distributor EET Nordic.

CVC’s other deals in the retail sector include the 2005 acquisition of Spanish clothing retailer Cortefiel and the 2003 acquisition of UK department store operator Debenhams.

Founded in 1981, CVC has more than €18 billion under management, and closed its fourth fund on €6 billion in July 2005.