PARIS — Groupe Bogart has acquired the beauty chain HC Parfümerie to bolster its expansion into Germany.
“This first entity in Germany is perfectly in line with the strategic roadmap announced by the Bogart Group during its capital increase at the end of 2015,” the French maker and distributor of luxury fragrances and cosmetics said in a statement, without revealing the cost of the transaction.
It did, however, say that the purchase of 100 percent of HC Parfümerie was made entirely in cash and financed using Groupe Bogart equity. The company explained the merger “will not only notably enable Bogart to cement its position as a Europe-wide retail chain, accelerate its global expansion and double its network of boutiques, but will also have a strong leverage effect on all of the group brands.”
The company’s owned fragrance labels include Ted Lapidus and Carven, while its licensed perfume brands are Chevignon, Lee Cooper and Naf Naf. In cosmetics, it has Méthode Jeanne Piaubert and Stendhal.
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Total group revenues in 2015 reached more than 95 million euros, or $101.1 million at average exchange, of which 57 percent came from Groupe Bogart’s own-brand cosmetics chain.
In December 2015, the company said it had issued a private placement of 20.3 million euros, or $21.6 million, of which 16.2 million euros, or $17.2, were raised through the issuance of new shares.
At the time, David Konckier, chairman and chief executive officer of Groupe Bogart, said: “With the financial increase we can more actively support the new launches of our lines of perfumes and cosmetics in the world, and we can also be ready to quickly seize on acquisition opportunities for our network of boutiques, thereby continuing to accelerate the growth of our market share in France and abroad.”
HC Parfümerie was founded four decades ago by the Warschau family and today has 80 boutiques and seven franchised stores whose outlets are generally in city centers across northern Germany, including Werder, Schwalmstadt, Gießen, Bremen and Wolfsburg. The perfumery chain, which has more than 400 employees, registered sales in 2015 of more than 30 million euros, or $31.9 million.
HC Parfümerie was consolidated into Groupe Bogart as of Dec. 1, bringing its number of sales outlets in Germany, France and Israel to 152.