Douglas eyes Nocibé

German perfumery retailer Douglas group is in exclusive negotiations to buy French perfumery chain Nocibé from European investor Charterhouse. According to French newspaper,Les Echos, Nocibé is thought to be worth between Euro500-550m.

The acquisition would create the largest perfumery store network in France, with a total of 625 stores and some 4,000 employees. Currently Nocibé and Douglas are number three and four on the French perfumery market.

After the acquisition Nocibé’s outlets will be integrated under the roof of Douglas Holding. In terms of turnover the new store network would then be the second biggest player on the market, after LVMH-owned Sephora and before AS Watson-owned Marionnaud.

The proposed acquisition is part of Douglas’ ambitious new expansion plans. The German retailer changed hands itself in late 2012. Douglas’ new owners, investor Advent International and the Kreke family have recently announced a new corporate strategy which includes the positioning of Douglas as European perfumery market leader.