PARIS — Douglas is making further inroads in Spain. The German beauty retailer said on Thursday that it is acquiring up to 103 stores and the e-commerce activity of Perfumerias If from Eroski, the Spanish retail group.
The amount Douglas is paying for the operation was not disclosed, but the Düsseldorf, Germany-based company said the deal is being financed by an additional 300-million-euro term loan extension that was secured in June, as well as existing liquid funds.
“With a strong footprint in the attractive northern area, Perfumerias If is one of the leading perfumery and cosmetics chains in the country,” Douglas said in a statement.
The beauty seller in early July completed the purchase of Grupo Bodybell, which has 223 stores in Spain.
“By integrating the Perfumerias If stores, Douglas will clearly become the new number one for beauty and cosmetics in Spain,” said Isabelle Parize, chief executive officer of Douglas. “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.”
Douglas has been highly acquisitive of late. In the past few months, alongside buying Bodybell, it purchased Limoni and La Gardenia, two leading Italian perfumery chains. The moves are part of the beauty retailer’s strategy of becoming the leader or strong number two in each market that it’s in.
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Following the closing of the three transactions, Douglas will be operating more than 2,400 perfumeries in 19 countries across Europe.
Douglas, which carries more than 35,000 beauty products, generated sales of about 2.7 billion euros in its 2015-16 fiscal year.
The company first entered Spain in November 1995. Its subsidiary there has 280 stores with more than 2,000 employees.