Spain: Douglas scoops up Beauty Bell amid store shutdowns

The cosmetics distribution company Douglas has notified the National Markets and Competition Commission (CNMC) on April 28 of its acquisition of The Beauty Bell Chain, which owns the Bodybell and Juteco brands.

Bodybell, based in Madrid and with more than 200 brick-and-mortar and online stores, was propositioned by Douglas earlier this year after reaching an agreement with a group of investors led by HIG Bayside Capital. The agreement is subject to several conditions, including the approval from competition authorities and the adjustment of the workforce.

Bodybell would face its second restructuring in two years, including the closure of up to 90 stores (60 in the restructuring of 2016, 32 contemplated now) and hundreds of workers laid off.

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