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Rotterdam, The Netherlands and New York, December 30, 2021 /PRNewswire/ – Hunter Douglas (AEX: HDG), a global market leader in curtains and a major manufacturer of architectural products, and 3G Capital, a global investment company and private partnership, announced today that Ralph SonnenbergThe controlling shareholder of Hunter Douglas Group has signed a definitive agreement to transfer the controlling interest of the company to 3G Capital at a value of 175 euros per common share. The Sonnenberg family will continue to hold a 25% stake in Hunter Douglas, which is a preparation for the new capital structure.Hunter Douglas’ board of directors, represented only by its independent directors, unanimously supports the transaction and has agreed with 3G Capital and Ralph Sonnenberg Promote and ensure the cash exit of all minority shareholders at the same price per common share. The completion of the transaction is subject to limited closing conditions, including the approval of Hunter Douglas’ shareholders meeting.
Strategic basis
The transaction valued Hunter Douglas common stock (“common stock”) at 175 euros per common share (“common share price”), which means that the enterprise value is approximately $7.1 billion1. The price of common stock is 73% premium Hunter Douglas Closing common stock price December 30, 2021 101.40 Euro and 64% premium Hunter Douglas The closing price of common shares was 106.40 Euros, a record high.
“3G Capital pays tribute to Hunter Douglas, its diversified brand portfolio, and the firm leadership of the three generations of the Sonnenberg family. We are honored to work with and cooperate with the Sonnenberg family Hunter Douglas The management team talks about the company’s next phase of global expansion,” said co-managing partner and co-managing partner Daniel Schwartz. Alex Belling, Co-founder and co-managing partner of 3G Capital. “Our 3G Capital team has extensive experience in building a consumer brand business over the long term, and we look forward to investing in Hunter Douglas to continue to strengthen its brand and expand further. Hunter Douglas Its strong market position is the product of its expertise established over the past century.We are committed to retaining this expertise through authorization and support Hunter Douglas Leadership and close cooperation Hunter Douglas An outstanding team of founders and entrepreneurial managers and an unparalleled network of distributors and manufacturers. “
“Hunter Douglas was founded by my father more than 100 years ago. Thanks to our commitment to innovation, entrepreneurial culture, leading brands and world-class management, we have grown to be a global leader,” Ralph Sonnenberg“3G Capital is a well-known investor, operator, and a strong partner of our business.”
The current Co-President and Co-CEO of Hunter Douglas Group, David Sonnenberg, Will be transferred to the Executive Chairman of the Hunter Douglas Group Board of Directors after the transaction is completed, and will continue to be highly involved in daily business and business strategy, using his 30 years of knowledge and active experience in the company.
“We look forward to working with 3G Capital in the next chapter Hunter Douglas history. As an owner-operator with long-term investment vision and extensive experience in running global brand businesses with the founding family, 3G Capital is a dynamic manager that continues Hunter Douglas’ legacy.” David Sonnenberg, Hunter Douglas said. “As a private company, Hunter Douglas will have the opportunity to advance and expand our business while maintaining a family-led culture and strong relationships with stakeholders. These are the core of our success.”
João Castro Neves, senior partner of 3G Capital, is expected to…
The full story on Benzinga.com
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