BERLIN — Douglas is making inroads into Spain with the purchase of Madrid-based Grupo Bodybell from H.I.G. Bayside Capital.
The Spanish perfumery chain holds more than 200 stores and two online shops. Douglas currently has 57 perfumeries in Spain through a local subsidiary. The financial details of the transaction have not been disclosed.
Bodybell was founded in the 1970s. The chain sells perfume and cosmetics, as well as pharmacy items and baby care, throughout Spain. H.I.G. Bayside Capital acquired the firm in 2015 through financial restructuring and a debt-for-equity swap.
“The transaction promises great potential,“ Douglas chief executive officer Isabelle Parize said in a statement.
“While Bodybell has 43 years of experience of combining selective and mass beauty products in the Spanish market, Douglas brings to the table extensive know-how from its international operations, including the successful introduction of private labels and innovative omnichannel solutions,” she added.
Javier Perez de Leza Eguiguren, board member of Grupo Bodybell, said: “The combined forces of Douglas and Bodybell will certainly provide the new group with additional resources to develop the business further and ensure an even better service to customers.”
Douglas has around 1,700 stores in 19 European countries, as well as more than 600 Nocibé stores in France, making it a selective beauty market leader in the region.
For the 2015-2016 financial year, the Germany beauty retailer said it generated annual sales close to 2.7 billion euros, or $3 billion at average exchange rates for the period.