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French cosmetics group Bogart has sold its entire Israeli retail subsidiary, April Cosmetics and Perfumes Store Chain, to April Holding D.K. for a stated price of about €5.8 million. The buyer is owned by Bogart Chairman and CEO David Konckier, who was excluded from the board vote approving the related-party transaction.
French cosmetics group Bogart has sold 100 percent of its Israeli subsidiary, April Cosmetics and Perfumes Store Chain, for approximately €5.8 million. The buyer, April Holding D.K., is owned by Bogart Chairman and CEO David Konckier, making the disposal a related-party transaction as the group reviews its international operations and financial position.
The sale price reflects a stated business value of approximately €10 million before net financial debt is deducted. Bogart’s announcement, as reported by Global Cosmetics News, identifies April Holding D.K. as the purchaser and says Konckier is the holding company’s owner. The reported transaction transfers the full shareholding in April Cosmetics and Perfumes Store Chain.
April operates 47 stores in Israel. It generated €36.7 million in revenue during 2025, equivalent to 13.9 percent of Bogart’s consolidated sales, and reported EBITDA of €0.7 million for that year. Those figures describe the subsidiary’s latest reported annual performance; they do not establish the proceeds Bogart will ultimately retain after any transaction costs or other adjustments.
Bogart’s board approved the related-party deal on 12 October 2026, according to the report. Konckier did not take part in the vote. The source identifies that exclusion but does not provide further detail on the board’s review process or any independent valuation work.
What the Israeli Sale Changes
The disposal removes a retail operation that contributed 13.9 percent of Bogart’s 2025 consolidated sales from the group’s reported business portfolio. The sale is therefore a material change in the company’s geographic retail footprint, although the available figures do not show how much profit or cash the unit contributed after financing costs and other expenses.
Bogart says the move is part of a wider review intended to strengthen its financial position and improve capital allocation. If completed on the reported terms, the transaction would give the group proceeds while shifting ownership of the Israeli chain to a company owned by its chairman and CEO. The relationship between seller and buyer makes the board’s handling of the deal relevant to investors and other stakeholders; the reported exclusion of Konckier from the vote is one disclosed governance detail.
The stated price should not be confused with the business’s pre-debt valuation. Bogart’s report gives an approximate €10 million value before net financial debt and an approximately €5.8 million sale price after that deduction. The source does not provide a breakdown of the debt or explain the calculation further, limiting what can be inferred about the deal’s net financial effect.
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April’s Place in Bogart
The sale fits within Bogart’s stated review of its international retail operations and financial structure. The company says it expects the disposal to let it redirect resources toward other business priorities. The supplied report does not name those priorities or set out a broader timetable for changes to other markets.
April is an established operating business rather than a small, inactive subsidiary: it had 47 Israeli stores and reported tens of millions of euros in annual revenue for 2025. At the same time, its reported EBITDA was €0.7 million. Revenue and EBITDA measure different things, so the figures alone do not show the unit’s overall contribution to Bogart’s cash flow, debt burden or future prospects.
The transaction is also distinct from an arm’s-length sale to an unrelated buyer because April Holding D.K. is owned by David Konckier, Bogart’s chairman, CEO and principal shareholder. The source says the board approved the transaction with him excluded from the vote. It does not report the identity of any other bidders or describe whether alternatives were considered.
“The disposal forms part of Bogart’s strategy to review its international retail operations, strengthen its financial position and improve capital allocation.”
— Groupe Bogart, as summarized by Global Cosmetics News
Deal Terms Still Not Detailed
The available report does not say whether the transaction has closed, when ownership will formally transfer, or whether any regulatory or other closing conditions remain. It reports the board’s approval date and the approximate sale price, but not a completion date.
Further financial details are also absent. The report does not state the subsidiary’s net financial debt, explain the precise calculation behind the sale price, or specify whether Bogart will receive any additional consideration. It also does not describe the valuation method, whether independent advice was obtained, or what alternatives the board reviewed.
Bogart’s stated plans for the proceeds remain broad: the company says it intends to strengthen its financial position and redirect resources, but has not identified specific investments, debt repayments or other uses in the supplied material. The impact on Bogart’s future sales and earnings will depend partly on what replaces the subsidiary’s contribution.
Closing and Capital Plans
The immediate next point to watch is whether Bogart or the buyer confirms completion of the transfer and provides a date. Any subsequent company disclosure could also clarify the final consideration, the treatment of net debt and whether further approvals were required.
Investors will also look for details on how Bogart applies the proceeds and whether the review leads to additional changes in its international retail operations. The company has not, in the supplied report, announced a timetable or named other businesses under review. Until further information is released, the sale’s final cash impact and its effect on the group’s financial performance remain uncertain.
Key Questions
What has Bogart sold?
Bogart sold its entire holding in April Cosmetics and Perfumes Store Chain, an Israeli cosmetics retailer operating 47 stores.
Who is buying the Israeli subsidiary?
The buyer is April Holding D.K., which is owned by Bogart Chairman and CEO David Konckier. The reported deal is therefore a related-party transaction.
How much is the sale worth?
The reported sale price is approximately €5.8 million. The business was valued at about €10 million before net financial debt was deducted.
How did April perform in 2025?
April reported €36.7 million in revenue and €0.7 million in EBITDA in 2025. Its revenue represented 13.9 percent of Bogart’s consolidated sales for that year.
Has the transaction closed?
The report says Bogart’s board approved the transaction on 12 October 2026, but does not confirm whether the sale has closed or give a completion date.
Source: rss
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