TDR Capital buys Lovehoney in €400M intimate wellness bet
What's the deal? Private equity firm TDR CapitalDealroom has a profile for this one. Try Dealroom → has agreed to acquire Lovehoney GroupDealroom has a profile for this one. Try Dealroom →, a major player in the "intimate wellness" sector, for roughly €400 million (£334 million), according to Sky News. The London-based buyout firm — which also owns AsdaDealroom has a profile for this one. Try Dealroom →, pubs giant StonegateDealroom has a profile for this one. Try Dealroom →, and David Lloyd LeisureDealroom has a profile for this one. Try Dealroom → — is buying the business from majority investor Jacobs CapitalDealroom has a profile for this one. Try Dealroom →, with Asian asset manager CDH Investments holding a minority stake.
What each side brings: Founded in Bath in 2002, LovehoneyDealroom has a profile for this one. Try Dealroom → designs, manufactures, and sells adult pleasure products to more than 60 countries and employs over 850 people across the UK and Germany. Its portfolio spans about 20 brands, including Fifty Shades of GreyDealroom has a profile for this one. Try Dealroom →, We-VibeDealroom has a profile for this one. Try Dealroom →, and WomanizerDealroom has a profile for this one. Try Dealroom →.
What's the endgame? One source close to the deal said TDR had identified a chance to build a broader multinational intimate wellbeing platform, with expansion expected through organic growth and further consolidation of a fragmented sector. The Lovehoney parent company is expected to be rebranded.
Why now? The source cited "growing institutional investor interest in the space." Houlihan LokeyDealroom has a profile for this one. Try Dealroom → advised Lovehoney's owners on the sale.
The price reset: The deal marks a sharp markdown from the Lovehoney–WOW TechDealroom has a profile for this one. Try Dealroom → combination, which was valued at more than €1 billion when the two merged in 2021, though the figures may not be directly comparable. Lovehoney was established as a retailer and manufacturer of adult products before that merger with WOW Tech.
The signal: Few investors have tried to build a global sexual wellness platform. WaterlandDealroom has a profile for this one. Try Dealroom → backs EQOM Group, and Germany's EISDealroom has a profile for this one. Try Dealroom → expanded via a 2025 acquisition of Dutch and Belgian retailer Willie — but deals at this scale remain rare. TDR's bet is less about one brand than about consolidating a category that has yet to find a dominant owner.
Read more: msn.com
Image credit: Generated with Gemini
