Parfümerie Pieper – Green light for takeover – Restructuring completed. The restructuring of Stadt-Parfümerie Pieper GmbH Parfümerie International has been successfully completed, and Parfümerie Pieper is returning to normal business operations. This also clears the way for the takeover of the long-established perfumery chain by AIH Holding GmbH, a company owned by the French Konckier family, which operates in the perfumery retail and manufacturing sectors in France and Germany. The investor will acquire all shares in the company and continue business operations at the Herne site as well as at the remaining branch locations.
Parfümerie Pieper – Restructuring successfully completed
At the hearing for discussion and voting before Bochum Local Court (Ref.: 80 IN 873/25), the creditors have now approved the insolvency plan. The court subsequently confirmed the plan. At the company’s request, the Bochum Local Court had ordered provisional self-administration on 20 November 2025. Managing Director Dr Oliver Pieper was supported in the self-administration process by a team from the law firm Grub Brugger (Dr Philipp Grub (General Representative), Nora Sickeler, Dr Lukas Herbert). “The successful turnaround via an insolvency plan in seven months demonstrates that our team of experts possesses the necessary retail sector experience. Operational and financial turnaround, as well as legal restructuring, were carried out in close cooperation with the company and other advisers,” summarises Dr Philipp Grub.
Clear prospects for the future for the company, customers and employees
Sven Pursche (novaerion) acted as a further general representative and led the operational business restructuring as CRO: “With the confirmation of the insolvency plan, we have succeeded in bringing the restructuring to a successful conclusion and giving the company clear prospects for the future. The past few months have shown what is possible when employees, customers, business partners, creditors and all stakeholders work together towards a common goal. We would like to express our sincere thanks to everyone involved. A new chapter is now beginning, in which the foundations laid can be used to develop the company sustainably.”
M&A process concluded following intensive negotiations
The court appointed Sarah Wolf (anchor Rechtsanwaltsgesellschaft mbH) as the administrator. On 1 February 2026, the insolvency proceedings under self-administration were opened. Immediately after the application was filed, SIGMA Corporate Finance GmbH was commissioned by the creditors’ committee to conduct a comprehensive international M&A process. Following intensive negotiations, AIH Holding GmbH emerged as the successful investor.
In addition to the continuation of the business, the insolvency plan provides for a variable pro rata payment to the non-subordinated insolvency creditors. The restructuring under the insolvency plan will leave creditors in a significantly better position than under the alternative scenario of a break-up. Furthermore, 115 of the branches and the vast majority of jobs can be retained.
About Parfümerie Pieper
The name Pieper stands for a company, but above all for a family: in 1931, Anna Pieper founded a small soap shop in Bochum together with her son Gerhard. Her grandson Gerd Pieper, who served on the management board until 2018, transformed the former soap shop over the years into Germany’s largest owner-managed perfumery. Today, over 90 years later, his two sons, Dr Oliver Pieper (Managing Director) and Torsten Pieper (Authorised Signatory, Finance, Controlling), are part of the management team and lead the family business in its fourth generation.
With more than 110 locations in North Rhine-Westphalia, Lower Saxony, Bremen and Hamburg, Pieper offers a wide range of products, including almost all major brands, as well as the latest trends and must-haves in the fields of fragrance, skincare and make-up. The tradition-conscious family business from the Ruhr region focuses on personal, independent advice and individual service – in more than 110 local perfumeries and in its online shop.
About the Konckier family
The French Konckier family, owners of the Bogart Group, has been an established player in the global cosmetics market for more than five decades. Their expertise spans the entire value chain, from brand development and positioning to the distribution of international beauty and fragrance brands in the premium segment.
[Text: epcnews/Photo:Parfümerie Pieper]
