Douglas expands with acquisition of 103 stores from Perfumerias If

German beauty retailer Douglas has bolstered its position in the European market with the acquisition of 103 stores and e-commerce platform from Spanish retail group Eroski’s perfumery and cosmetics chain Perfumerias If.

Financial details of the acquisition have not been disclosed.

The move strengthens Douglas’ recent purchase of Spanish perfumeries chain Grupo Bodybell from HIG Bayside Capital.

Completed earlier this month, the Bodybell transaction covers its 223 locations, two online shops and one logistics platform.

The latest transaction is subject to customary conditions, merger control approval and is said to be financed through €300m term loan extension and current liquid funds.

Douglas CEO Isabelle Parize said: “By integrating the Perfumerias If stores, Douglas will clearly become the new number one for beauty and cosmetics in Spain.

“The store network of Perfumerias If in the economically strong Basque region is an ideal addition to our combined Douglas and Bodybell businesses with virtually no overlap to our existing portfolio.”

In recent months, Douglas also purchased Italian perfumery chains Limoni and La Gardenia.

Upon completion of all three acquisitions, Douglas portfolio will include more than 2,400 perfumeries across 19 European countries, as well as an expanding network of e-commerce.

The firm currently offers more than 35,000 products through stores, online and mobile channels. It opened its first Spanish perfumery in 1995, and now includes 280 stores.