Douglas, the German cosmetics retailer owned by CVC Capital Partners, has signed a deal to acquire Madrid-based rival Grupo Bodybell.
Bodybell sells cosmetics, fragrance and personal care products through more than 200 stores as well as two online shops. It also operates an established logistics platform.
Describing Douglas and Bodybell as sharing a “joint vision” for the Spanish market, 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 operates approximately 1,700 stores in 19 European countries, and is the selective beauty market leader in Europe. In 2015/2016, Douglas generated roughly €2.7bn in annual sales.
Isabelle Parize, CEO of Douglas, said: “Strengthening our market position in this country is a decisive step forward on our way to becoming number one or a strong number two 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.”
