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  GROUPE BOGART company press release from 09/09/2019

  09/09/2019 - 18:00

BOGART GROUP SIGNS AGREEMENT TO ACQUIRE 18-STORE CHAIN IN LUXEMBOURG AND BECOMES LEADING SELECTIVE RETAILER IN THE COUNTRY


PRESS RELEASE

Paris, 9 September 2019

Bogart Group (Euronext Paris - Compartment B - FR0012872141 - JBOG), which specializes in the creation, manufacture and sale of luxury fragrances and cosmetics, has signed a draft agreement to acquire 18 new selective fragrance boutiques in Luxembourg belonging to the Milady Parfumerie chain.

In line with the Group's active policy of acquisitions in the Boutiques business line, the deal will considerably expand its European footprint. The Group, which currently operates three Distriplus stores in Luxembourg, will capitalize on its knowledge of the market and increase the number of stores to 21 following the acquisition, thereby expanding its Benelux operations and becoming the leading selective retailer in Luxembourg.

Founded in 1983, Milady Parfumerie is one of the leading selective retailers in Luxembourg backed by a robust and profitable store chain.

This acquisition is fully in line with the Group's virtuous strategy of expanding its store chain in order to drive growth, not only for the Boutiques business, but also for the Brands business through the sale of the Group's own brands in the new stores.

Bogart Group continues to leverage strategic drivers, including its knowledge and experience of retail chain integration, the continued roll-out of Group own brands across the retail chain and the extensive operating synergies currently being established.

The cost of the acquisition, which is moderate by Group standards, will be financed by bank loan. Closing is scheduled for 30 September 2019.

After the acquisition, Bogart Group will have 380 stores in five countries (France, Germany, Belgium, Luxembourg and Israel) and 8 owned fragrance and cosmetics brands marketed in 90 countries worldwide.

Next publication: H1 2019 results, 30 September 2019 after close of trading

Group website www.groupe-bogart.com

CONTACTS

GROUPE BOGART ACTUS finance & communication  

 

 
contact@jbogart.com
Tél. : 00331 53 77 55 55
 
Anne-Pauline PETUREAUX
Analyst/Investor
Tél. : 00331 53 67 36 72
apetureaux@actus.fr
 
Alexandra PRISA
Press relations
Tél. 00331 53 67 36 90
aprisa@actus.fr

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  Original Source: GROUPE BOGART