Raises €19.8 million gross from the sale of existing shares1; market capitalisation approximately €198 million
Paris – 11 July 2018 – Euronext today welcomed Roche Bobois, an international pacesetter in high-end furniture and French art de vivre, to celebrate its listing on Euronext Paris.
Founded in 1960 by the Roche and Chouchan families, the group has developed two brands: Roche Bobois, a global leader in high-end home furnishings, and Cuir Center, a French specialist in mid-range sofas. Over the years it has launched a unique selection of premium furniture designs that reflect French art de vivre, developing long-term partnerships with some fifty renowned designers and architects including Jean Paul Gaultier, Marcel Wanders and Ora Ito. Today Roche Bobois operates a network of 329 stores, 157 in France and 172 in other countries.
Roche Bobois (ticker symbol: RBO) was listed on 9 July 2018 through the admission to trading of 9,875,216 shares, including 987,521 allocated shares within the offer and excluding the potential exercise of the over-allotment option.
The offering price was set at €20 per share. Market capitalisation on the day of listing was around €198 million.
At the listing ceremony, Roche Bobois management board chairman Gilles Bonan said: “I would like to express our warmest thanks to the institutional and retail investors that have expressed confidence in us by becoming shareholders. It is a source of pride for our small, family-owned company and for our employees, franchisees and shareholders to be opening our capital up to the public for the first time. This transaction comes at a key stage for us as we step up the pace of growth, particularly on international markets. And because it puts the Roche Bobois group in the spotlight, heightening our visibility and extending our reach in France and around the world, it will surely attract new talent. Our teams are working all-out to implement a bold business strategy for the years ahead and meet growth targets for both sales and profits.”
1 May be raised to €22.7m if the over-allotment option is exercised.
About Roche Bobois
Roche Bobois SA is a family-owned French business founded in 1960. The Group operates in 54 countries through a network of 329 stores owned outright or franchised (at 31 December 2017) featuring its two brands: Roche Bobois, for high-end furniture with a strong international presence, and mid-range Cuir Center, with an essentially French customer base. Through its Roche Bobois brand, the Group embodies French art de vivre and its presence is now felt on the world stage, with original and bold creations from talented designers such as Bruno Moinard, Jean Nouvel, Ora Ito, Sacha Lakic, Christophe Delcourt, Stephen Burks, Kenzo Takada and Bina Baitel, as well as partnerships with fashion and haute couture houses. Roche Bobois is also active in the world of culture and the arts. Including franchises, the two brands posted 2017 revenues of €480 million excluding VAT, to which Roche Bobois contributed €388 million and Cuir Center €92 million. Roche Bobois SA’s consolidated revenues came to €249 million in 2017.