Case study JJA

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The company

JJA is a French B2B supplier of home furnishings & associated products. The company has built a portfolio of distinctive, design-led brands in categories including home decoration, garden furniture, toys and Christmas items that are distributed primarily to fast-growing soft discount and online channels.

Why we invested

  • Attractively positioned as a key partner to its clients
  • Omnichannel distribution underpinned by well-invested operating capabilities, experienced design teams and innovative digital tools
  • Strong, experienced founder and management team
  • Good potential for further growth, including internationally
Year of investment

2018

Sales (LTM to November 30, 2018)

€401.6m

Status

Current

Sector - Consumer

Building a better business

Prior to TowerBrook’s investment, the company was wholly owned by its longstanding founder and CEO, Jacques-Olivier Abiteboul. Mr. Abiteboul was looking for a minority partner with strong financial expertise, extensive consumer industry knowledge and broad international reach to support the next phase of development of the business. He chose to partner with TowerBrook on a proprietary basis, given our operating and transaction experience in the consumer sector, especially in France. TowerBrook Structured Opportunities Fund I and its co-investors completed an €89 million investment in JJA in March 2018.

Following completion of the transaction, Daniel Bernard, the former Chair of Kingfisher, Chair & CEO of Carrefour, Vice Chair of Capgemini and a member of TowerBrook’s Senior Advisory Board, joined the Board of JJA.

TowerBrook is working with Mr. Abiteboul and the management of JJA to optimize the development of the company. Key initiatives include the accelerated roll-out of branded products with existing clients in France as well as with new clients in distribution channels including DIY and large grocery stores, and international expansion.

JJA is also focusing on improving its IT, logistics, ESG and the traceability of its products.

JJA has invested in acquiring the experience necessary to source and monitor approximately 20,000 SKUs for design, quality, pricing and lead time.

JJA’s 110,000 square-meter logistics hub, Easy Logistique, is the largest single-site warehouse in France. It has 77 reception and shipping bays and its sophisticated stock management tools facilitate just-in-time deliveries to 1,500 customers in 3,500 locations in France and continental Europe.