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Carlsquare advised Del Decus Enterprises on the sale to Karo Pharma

Carlsquare advised the shareholder of Del Decus Enterprises on the sale of all assets to Karo Pharma, a listed Swedish healthcare company backed by EQT. Karo Pharma recently acquired Sylphar from Brussels-based private equity firm Vendis Capital. Due to the expected synergies between Del Decus and Sylphar as a result of the transaction, the management teams will work together after the transaction and continue the successful development of the company’s brands on digital marketplaces.

Del Decus is a natural cosmetics supplier founded by Deniz Genc that has quickly established itself as a leading seller on the European Amazon marketplaces with its brand Satin Naturel. This position was achieved thanks to management’s in-depth understanding of Amazon algorithms and excellent customer reviews. With a high-quality aloe vera-based product portfolio, the company’s products are positioned in the “affordable luxury” price segment and appeal to a loyal customer base that values health and physical well-being. The product assortment ranges from creams and gels to facial toners and serums, which are sold online, via Amazon, the company’s own web shop and Rossmann, as well as via QVC.

In 2021, Deniz Genc brought two external managers on board, Johannes Schmidt and Deniz Schöne from Schmidt & Schöne Strategy. In addition to being responsible for the operational business, both were involved in the transaction process and supported with their experience.

Sylphar is a Belgium based fast-growing and digital-first platform with a proven ability to grow and internationalise brands in the consumer health and beauty markets. Sylphar offers a portfolio of leading brands in these markets mainly sold through online marketplaces, web shops and e-pharmacies. The Sylphar brands are distributed in more than 50 countries worldwide with the support of local distribution partners and / or through online platforms.

Karo Pharma delivers smart choices for everyday healthcare. They own and commercialise branded, original over-the-counter products and prescription medicines. Their products are available in more than 60 countries, with Europe and the Nordic region as core markets. Karo Pharma is headquartered in Stockholm, Sweden and listed on Nasdaq Stockholm.

Carlsquare acted as the exclusive advisor to Del Decus Enterprises.

Del Decus Enterprises
Karo Pharma
Michael Moritz
Michael Moritz LinkedIn
Managing Partner