Paris, 6 January 2020
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 8 new selective fragrance boutiques in Germany belonging to the Parfümerie Gottmann chain.
The Group is energetically pursuing its acquisition strategy focusing on the Boutiques business. Bogart Group has operated in Germany since 2016 via the HC Parfumeries chain (87 boutiques) and will now strengthen its footprint in the country by purchasing 8 new boutiques from Gottman.
Located in the Cologne region since 1955, the new boutiques will give the Group access to previously uncharted territory as well as boosting profit margins.
This acquisition will increase HC Parfumeries turnover by around 10%.
The deal at a modest price by Group standards will be closed in January 2020 after the customary due diligence procedure and the new business will be consolidated from March 2020.
Following the acquisition, Bogart Group will operate 95 fragrance boutiques in Germany and a total chain of 390 stores across all of its regions (Belgium, Luxembourg, Germany, France and Israel).
Bogart Group will publish its yearly turnover on 13 February 2020.
Group website www.groupe-bogart.com
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Full and original press release in PDF: https://www.actusnews.com/news/61546-pr_bogart_gottman_06012019_en_def.pdf