Spain
Cuatrecasas advises Druni on implementing agreements with Arenal and MCretail to form largest beauty operator in Spain
July 18, 2024
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SubscribeCuatrecasas has advised Druni—the perfume, cosmetics and health & beauty retailer—on implementing the agreements signed in June 2023 with Arenal and MCretail to create a leading health and beauty retailer, with a joint turnover in excess of €1 billion in 2023 and over 500 stores open to the public. The deal was completed after receiving approval from the competent authorities.
Following this transaction, Druni will remain as head of the resulting new group, which will be owned by the Casp family and the Portuguese company MCretail, each with a 50% stake.
The transaction enhances the assets and increases the joint competencies of Druni, Arenal and MCretail, by combining the businesses of the first two, which will accelerate the growth plan of the three companies in both physical and online channels. As established in the agreement, Bernardo Casp is the managing director of the resulting group and will lead the management team, together with his brother José Casp, in this new phase.
Cuatrecasas Corporate and M&A partner, and secretary of Druni’s board of directors, Juan Grima, who led the legal process, said: "This is the completion of a long and complex negotiation process, both due to the number of parties involved and also the number and complexity of instruments that were necessary to make it possible.”
Cuatrecasas advised on the transaction through a comprehensive, multidisciplinary team made up of the following lawyers: Juan Grima, Lucía Trigo, Cristo Gordillo, Rocío Rambla and Cristina Serna (Corporate and M&A); Francisco Picó, María Catalán, Philipp Potapov and Nuria Sigüenza (Tax); and María López, Alexandre Picón and María Marcote (Antitrust and Competition).
July 18, 2024
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