Douglas acquires Italian beauty and perfumery group | Progresiv
Douglas GmbH, a leading retailer in the European beauty sector, has taken a significant step to further expand its strong position internationally. Profumerie Douglas S.p.A., the Italian subsidiary of Douglas, has signed an agreement to acquire two leading Italian beauty and perfumery chains - Limoni S.p.A. and La Gardenia Beauty S.p.A., together trading as Leading Luxury Group S.r.l. - from a group of investors led by private equity firm Orlando Italy Management SA. 
Limoni and La Gardenia joined forces in 2013 and form one of the leading beauty and perfumery retailers in Italy. With approximately 500 stores across all regions, LLG runs the most extensive beauty and perfumery network in Italy, which perfectly complements Douglas' existing 126 stores in the country.
"Following our recent acquisition of Bodybell in Spain, we are now strengthening our business in yet another core market in Europe. By integrating LLG into our pan-European store network, Douglas will now become a leading player in the Italian beauty sector. This transaction is a major step on our journey to becoming the No. 1 or strong No. 2 in every market we serve", said Isabelle Parize, CEO of Douglas.
Post-transaction, Douglas will operate more than 2,000 perfumeries across Europe from Portugal to Latvia, combined with a network of online shops, in 19 European countries. From its international operations, Douglas has gained industry-leading expertise in providing exclusive shopping experiences to customers looking for beauty products and cosmetics. By transferring best practice from other European markets to Italy, Douglas strives to offer the highest quality service also to the Italian customers.
Closing of the transaction is subject to customary conditions including merger control approval, and the company is considering an incremental term loan financing to fund a portion of the transaction. Beyond this, the companies have agreed not to disclose financial details. (www.dgap.de)
