Macy’s Inc. has finalized its acquisition of Bluemercury, the independent luxury beauty chain with 60 specialty stores and a growing online presence.
Terms of the deal were as outlined by Macy’s when it agreed to purchase the Washington, D.C.-based company last month.
The acquisition was made for $210 million in cash. Marla Malcolm Beck and Barry Beck, who founded the company in 1999, continue in their respective roles as chief executive officer and chief operating officer, with their team of 500 associates remaining in place.
Macy’s expects Bluemercury to be accretive in fiscal 2016, its first full year under Macy’s management.
Macy’s on Monday reiterated the intentions it outlined for Bluemercury at the time the acquisition was announced, saying it “plans to operate and significantly expand Bluemercury standalone specialty stores, enhance its online capabilities and add selected Bluemercury boutiques and private-brand products to Macy’s stores nationwide over time.”
Terry Lundgren, chairman and ceo of Macy’s, told WWD last month, “This is an opportunity for us to enter a new channel of distribution with fantastic, high-end brands, with a whole service and treatment connection with the customer that is unique to Bluemercury. It’s plus-numbers and new customers for Macy’s.
“They have some fantastic niche brands — and in most of the country, we don’t have about 80 percent of the brands that Bluemercury has, so there’s little overlap,” he added.
Most Bluemercury locations have spas. The chain carries its own skin-care line, M61, and is known for its high-tech skin-care and makeup artistry brands, including the Laura Mercier and Trish McEvoy color lines.