Bogart Group divest April Cosmetics and Perfumes for USD 6.5M
The transaction was announced by Bogart and approved by the company’s board three days earlier.
ISRAEL – French luxury and beauty group Bogart has agreed to sell 100% of its Israeli retail subsidiary, April Cosmetics and Perfumes Store Chain Ltd., known as April Ltd., for €5.8 million ( USD 6.5 million).
The buyer is April Holding D.K. Ltd., a company owned by David Konckier, Bogart’s chairman, chief executive, and principal shareholder.
Because the purchaser is controlled by Bogart’s own chairman and CEO, the group applied its internal procedure for related-party agreements.
Under Article L. 225-40 of the French Commercial Code, Konckier disclosed his interest to the board and did not take part in the vote.
The sale was carried out through Jacques Bogart International B.V., a wholly owned subsidiary of Bogart SA, which transferred all of its shares in April Ltd. to the buyer. Bogart said the divestment is intended to strengthen the group’s financial structure, increase cash available at the parent-company level, and support a more appropriate allocation of financial resources across the business.
The sale price reflects a valuation of April Ltd. at 35 million shekels (USD 11.29 million) based on valuation work carried out by PwC and BDO.
From that enterprise value, Bogart deducted April’s net financial debt as of September 1, 2026, which stood at 14.853 million shekels (USD 4.79 million).
That calculation produced the final equity consideration of 20.147 million shekels, equivalent to approximately €5.8 million.
April Ltd. operates a cosmetics and perfume retail chain in Israel through 47 stores as of June 30, 2026.
In 2025, the business generated revenue of €36.7 million (USD 41.21 million), representing 13.9% of Bogart SA’s consolidated revenue, and recorded EBITDA of €0.7 million (USD 785,967).
By exiting the Israeli retail operation, the group is reducing exposure to a business with thin profitability while freeing up cash that can be redeployed elsewhere in the portfolio.
The company also positioned the deal as a balance-sheet measure.
The proceeds and the removal of April’s net financial debt from the group’s consolidated position are intended to reinforce Bogart’s financial flexibility at a time when the group has cited a challenging economic and geopolitical environment as a drag on sales and profitability.
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