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Douglas to acquire Bodybell
Posted on Friday, 17 March 2017 14:35
H.I.G Bayside Capital is selling its Spanish perfume chain Bodybell to European retailer Douglas in an agreement that did not disclose financial details.
For the Düsseldorf-headquartered group, which was taken over by CVC Capital Partners and the Kreke family for EUR 2.80 billion in 2015, the combination with the target should create a leading player in the Spanish beauty market.
Bodybell has over 200 stores, two online shops and an established logistics platform which will be complementary to Douglas’ focus on improving customer experience by transferring proven concepts from other European markets to the country.
With the ongoing downfall in brick and mortar businesses, the buyer is looking to integrate its online operations with its shopping locations to offer omnichannel shopping to the Spanish market.
Founded in the 1970s, Bodybell not only offers perfumery but also household and beauty products and was bought by Bayside through a complex financial restructuring, comprising a debt-for-equity swap worth EUR 190.00 million in 2015.
Isabelle Parize, chief executive of Douglas, said: “Strengthening our market position in this country [Spain] is a decisive step forward on our way to becoming No. 1 or a strong No. 2 in every market we serve.
“The transaction promises great potential: 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.”
Douglas operates 1,700 shopping centres across 18 European countries with its multi-channel offerings, such as stores, online shops and mobile applications, the company claims to be the frontrunner in the expanding selective beauty market.
The group has over 30,000 products under its belt, generating sales of about EUR 2.70 billion in fiscal 2016.
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