MC IS THE RETAIL LEADER IN BEAUTY AND WELLNESS IN THE IBERIAN PENINSULA
MC signed an agreement with the founding shareholders of ‘Druni’ and ‘Arenal’ to combine these two companies’ businesses, creating a leading beauty and wellness retail operator in Spain, with a turnover of approximately 800 million euros.
‘Druni’ is a perfumery, cosmetics and parapharmacy retail company with a network of around 400 stores located in Spain, predominantly in the communities of Valencia, Catalonia and Madrid, as well as a booming online channel. Founded in 1987, ‘Druni’ generated a turnover of approximately 575 million euros in 2022.
‘Arenal’ is also a perfumery, cosmetics and parapharmacy retail company with a network of around 70 stores located mainly in northern Spain, and with a relevant online operation. Founded in 1975, since January 2019, ‘Arenal’ has been 60% owned by MC and 40% by its founding shareholders, generating a turnover of 192 million euros in 2022.
Combining Druni’s and Arenal’s businesses will make it possible to achieve a leading position in this segment in Spain and accelerate the growth plan of these companies both on offline and online channels, leveraging their different competencies, the complementarity of their stores’ network and a management team with strong experience in the sector.
MC will contribute to this agreement with its current participation in ‘Arenal’ and with an additional investment of around 112 million euros, creating a joint venture with the founding shareholders of ‘Druni’, in which the founding shareholders of ‘Arenal’ will also hold an indirect minority stake.
With this partnership, MC becomes the leader in the retail beauty and wellness market in the Iberian Peninsula, one of its main strategic pillars of development, significantly enhancing the joint assets and competencies of Druni and MC (in particular from Continente, Wells and Arenal).
For Luís Moutinho, CEO of MC, “This operation reinforces MC’s position as a major reference in the retail sector in the Iberian Peninsula, and in a segment with high growth potential and with strong strategic relevance for our Company. By joining forces with ‘Druni’ and its shareholders, new opportunities open up, in particular, for our health, beauty and well-being businesses, and we continue to build an even more promising future for MC.”
The completion of this transaction is subject to the approval of the competent authorities for a transaction of this nature, and its conclusion is expected during the second half of 2023.
‘Druni’ is a perfumery, cosmetics and parapharmacy retail company with a network of around 400 stores located in Spain, predominantly in the communities of Valencia, Catalonia and Madrid, as well as a booming online channel. Founded in 1987, ‘Druni’ generated a turnover of approximately 575 million euros in 2022.
‘Arenal’ is also a perfumery, cosmetics and parapharmacy retail company with a network of around 70 stores located mainly in northern Spain, and with a relevant online operation. Founded in 1975, since January 2019, ‘Arenal’ has been 60% owned by MC and 40% by its founding shareholders, generating a turnover of 192 million euros in 2022.
Combining Druni’s and Arenal’s businesses will make it possible to achieve a leading position in this segment in Spain and accelerate the growth plan of these companies both on offline and online channels, leveraging their different competencies, the complementarity of their stores’ network and a management team with strong experience in the sector.
MC will contribute to this agreement with its current participation in ‘Arenal’ and with an additional investment of around 112 million euros, creating a joint venture with the founding shareholders of ‘Druni’, in which the founding shareholders of ‘Arenal’ will also hold an indirect minority stake.
With this partnership, MC becomes the leader in the retail beauty and wellness market in the Iberian Peninsula, one of its main strategic pillars of development, significantly enhancing the joint assets and competencies of Druni and MC (in particular from Continente, Wells and Arenal).
For Luís Moutinho, CEO of MC, “This operation reinforces MC’s position as a major reference in the retail sector in the Iberian Peninsula, and in a segment with high growth potential and with strong strategic relevance for our Company. By joining forces with ‘Druni’ and its shareholders, new opportunities open up, in particular, for our health, beauty and well-being businesses, and we continue to build an even more promising future for MC.”
The completion of this transaction is subject to the approval of the competent authorities for a transaction of this nature, and its conclusion is expected during the second half of 2023.