Puig Parent Company Exea Purchases Majority Stake in Greek Skin Care Brand Apivita
Europe grabbed the beauty care M&A headlines last week with Spain’s Corporación Exea Empresarial (Exea) taking a majority stake in Greek beauty brand Apivita and the announced acquisition of Spain’s Bodybell by leading European beauty retailer Douglas.
Founded by pharmacists Niki and Nikos Koutsianas in 1972, Apivita, which means “life of the bee,” manufactures and distributes natural cosmetics inspired by the honey bee culture which promotes a holistic approach to health and beauty. The company’s formulations consist of propolis, honey, royal jelly, beeswax, plant extracts and essential oils across a broad portfolio of products, including facial care, hair care and body care.
Apivita distributes more than 300 beauty and personal care formulations through pharmacies, branded retail stores and department stores across Europe. The company generated more than $40 million of revenues in 2016. Exea is the parent of Puig which owns brands including Jean-Paul Gaultier, Carolina Herrera, Nina Ricci and Uriage. Founder Nikos Koutsianas will retain a third of the business and continue his involvement with the business as Chairman.
Douglas Acquires Grupo Bodybell to Become Leading Perfumery Chain in Spain
Douglas, a leading European beauty care retailer with 1,700 stores and approximately $3 billion in revenue, reached an agreement with H.I.G. Bayside Capital, the credit affiliate of H.I.G. Capital, to acquire portfolio company Grupo Bodybell.
Grupo Bodybell is a leading perfumery chain in Spain with over 200 retail stores, two online stores and an established logistics platform. The transaction, which is subject to merger control approval, elevates the combined entity to the No. 1 position in the Spanish beauty market. H.I.G. Bayside Capital acquired the firm in 2015.
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