In Finance, Retail

Douglas will take over a portfolio of 100-plus stores and the e-commerce platform of Perfumerias If from Spanish retail group Eroski, further securing their position as a leader in the Spanish market. Earlier this month Douglas completed the acquisition of Grupo Bodybell with 223 stores in Spain.

WHO: Perfumerias If has a portfolio of 283 stores in Spain and 4 in Andorra, and the e-commerce platform. With a strong footprint in the northern part of the country, it is one of the leading perfumery and cosmetics chains in the country.

Bodybell, founded in the 1970s, is a leading specialist distributor of perfumery and household products in Spain. Bodybell has more than 200 stores, two online stores, and a strong logistics platform.

Douglas is a leading beauty retailer in Europe, with approximately 1,900 stores in 19 European countries and about 20,000 employees. It has a multichannel offering that is fully integrated across stores, online, and mobile, as well as its continually updated selection of more than 35,000 products. In the financial year 2015/16, Douglas generated annual sales of approx. €2.7 billion.

WHY: This transaction represents Douglas’ effort to strengthen its international business to become No. 1 or a strong No. 2 in every market it serves. A leading retailer in the European beauty sector, Douglas has become a leading player in Spain through the Grupo Bodybell and Perfumerias If acquisitions.

IN THEIR OWN WORDS: “This acquisition means yet another boost for our market position in this highly attractive region. By integrating the Perfumerias If stores, Douglas will clearly become the new No. 1 for beauty and cosmetics in Spain,” said Isabelle Parize, CEO of Douglas, in a release. “The store network of Perfumerias If in the economically strong Basque region is an ideal addition to our combined Douglas and Bodybell businesses with virtually no overlap to our existing portfolio. We are all looking forward to welcoming our new colleagues to Douglas.”

DETAILS: 

  • Douglas will acquire 103 stores and the e-commerce platform of Perfumerias If from Spanish retail group Eroski.
  • The Perfumeria If transaction is being financed via the additional €300 million term loan extension secured in June and the existing liquid funds. Beyond this, financial details of the transaction have not been disclosed.
  • Douglas acquired the entire Bodybell business, comprised of 223 perfumeries, two online shops, Bodybell’s logistics platform, its wholesale business, and a cash-and-carry unit.
  • Douglas reached an agreement with H.I.G. Bayside Capital, the credit affiliate of H.I.G. Capital, to acquire portfolio company Grupo Bodybell.
  • Douglas opened its first perfumery in Spain in November 1995.

Read the full release in World Press Online.

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