Dow Jones reported the news, citing unnamed sources.
Reports in September confirmed Apax had received “tentative” bids for the company, with UBS and Societe Generale hired to advise LR over the sale.
LR had EBITDA of about $40m last year, and the company was hoping to fetch between eight and nine times EBITDA through the sale, or around $360m
Germany-based LR markets features toiletries ranges branded with celebrity names including Bruce Willis, Heidi Klum and Boris Becker, was bought by Apax in 2004.
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