Roche Bobois launches its ipo

Roche Bobois, designer and distributor of French high-end furniture, wants to open for the first time, its capital to the public (Photo by Craig Barritt. GETTY IMAGES NORTH AMERICA)

The designer and distributor of French high-end furniture Roche (SIX:ROG) Bobois has kicked off its ipo, at the end of which the two founding families remain the majority, he announced Tuesday.

The first step in the process, the group reported Monday its document de base with the Autorité des marchés financiers, has he said in a press release.

Roche Bobois “plans to be open for the first time, its capital to the public within the framework of the partial output programmed shareholders. The two founding families remain in the majority at the end of the process of ipo, and will continue to support the group in its growth and its future development”, said Gilles Bonan, chairman of the management board, quoted in the press release.

Founded in 1960, the group, which includes the brands Roche Bobois and Cuir center, intends by 2021 “accelerate its international development” and aims for a turnover of 320 million euros (compared with a consolidated turnover of 249 million euros in 2017) and a gross operating surplus (Ebitda) “two figures”.

Including franchisees, the turnover achieved by the two brands amounted to 480 million euros, excluding taxes ($388 million for Roche Bobois and $ 92 million for Leather, center).

The group plans within three years 39 openings to a net of stores, in strategic areas such as the United States, which today represent its second largest market in terms of revenue and the largest contributor to Ebitda.

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