Retail congolmerate A.S. Watson is due to acquire all 50 stores of Netherlands-based health and beauty retail network Dirx Drogist.
In addition to the acquisition of the stores, the majority of which are based in North Holland and South Holland, another five locations are said to be in the pipeline. All of Dirx's employees will join A.S. Watson and the Dirx stores will continue under the store concepts of Kruidvat or Trekpleister.
Gerard van Breen, CEO of A.S. Watson Health & Beauty Benelux, said: "We are delighted with this acquisition. The addition of these stores expands our national coverage making our stores accessible to even more consumers. We are also pleased to welcome the employees to our organisation. The stores will operate under the banner of Kruidvat or Trekpleister. We are looking forward to having customers here benefit from our large range of bargain-price products."
Rick Groen, Director of Dirx Drugstores, added: "With our 50 plus stores, we are currently too small a player to independently expand in the market. The A.S. Watson approach and focus of providing the best offers to customers at affordable prices is consistent with our philosophy. We are convinced that A.S. Watson is an excellent match to successfully move the business forward with our employees."
Dirx also manufactures its own private label, DX, which is said to provide the best quality at the lowest price.
The transaction is being presented to the Netherlands Authority for Consumer and Market for approval.
