The newly acquired company is a German fragrance and cosmetics chain, described by Bogart as a leading retailer in the country with a network of 80 boutiques and seven franchise stores.
Its store portfolio is primarily located in city centres across the north of the country (Werder, Schwalmstadt, Geissen, Bremen, Wolfsburg, etc.).
Bogart is a France based company, owning brands such as Ted Lapidus, Chevignon, Naf Naf and Lee Coper in fragrance and Strendhal and Méthode Jeanne Piaubert in cosmetics. The acquisition ties into Bogart’s intention to expand its presence in Germany.
Bogart says that this acquisition is intended to strengthen its position as an international player within the beauty and fragrance market.
“The merger between these two key market players will not only notably enable Bogart to cement its position as a Europe-wide retail chain, accelerate its global expansion and double its network of boutiques, but will also have a strong leverage effect on all of the Group brands,” the company explains.
“This first entity in Germany is perfectly in line with the strategic roadmap announced by the Bogart Group during its capital increase at the end of 2015.”
The acquisition of 100% of the capital of HC Parfümerie will be made entirely in cash and financed using Bogart Group equity, the company notes. It will be consolidated within the Group accounts from 1 December 2016, after which Bogart Group's new scope will include 152 sales outlets located across Germany, France and Israel.
Bogart has a presence in over 90 countries. The company markets products in France via selective cosmetics networks, and markets products overseas via local distributors and group subsidiaries. It generates more than 72% of its turnover outside France, and posted a turnover of EUR 95 million in 2015.
Turnover by business division breaks down into 43% through its distribution of fragrances and cosmetics, and 57% through its boutiques (own-brand cosmetics chain).
The HC Parfumerie acquisition sees it take on a company with a workforce of more than 400 employees, the company posted turnover in excess of €30 million in 2015 as well as a positive current operating profit.