French online flash sales company ShowroomPrivé has bought the remaining 40% of Beauteprivee’s share capital that it did not already hold.
It bought the first 60% in 2017 and now aims to increase the beauty offer.
“This transaction aims to strengthen the group's leadership position in the beauty and well-being vertical, a market with high growth potential and complementary to the fashion sector,” said the company, announcing the acquisition.
ShowroomPrivé, which is based at La Plaine Saint Denis in the north of Paris, bought the option to purchase the residual 40% when it purchased the original 60%.
The purchase of these remaining shares, at just over €20m, will be financed by a share capital increase that the company carried out at the end of last year, which brought in €39.5m.
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