Investment fund behind Douglas and Lipton goes public, share price rises 23 percent

NOS News•today, 03:35•Amended today, 09:40

Investment fund CVC has gone public. The company is listed in Amsterdam and has raised more than 2 billion. At the opening of trading, the stock rose by almost 23 percent.

The stock exchange listing was not celebrated on a grand scale. The company ignored the traditional gong strike. At Beursplein 5 there is only a flag with the name CVC.

The company likes to remain in the shadows, but is a very major player in the financial world. The company has invested in more than 120 companies worldwide.

Among the brands that fall under CVC are perfumery chain Douglas and tea brand Lipton. The fund acquired the latter brand from Unilever in 2021. CVC has also invested in various sports divisions, such as the Spanish football league and women’s tennis.

In the Netherlands, the fund has a majority share in AnQore, a chemical supplier located on the Chemelot site in Geleen.

CVC previously wanted to go public in Amsterdam, but that was postponed due to the war in Ukraine and then due to tensions in the Middle East. The stock market was turbulent at that time and that is not a favorable situation for a company to raise money.

Cosmetics chain Douglas also went public this year, in Frankfurt. The IPO did not go as hoped, the company raised less money than it wanted to raise.