The partners of the Valencian drugstore chain Druni and the Portuguese distribution group MC Sonae have closed an alliance that will create a new giant in the retailing of perfumery and cosmetics products in Spain with the union of Druni and the Arenal chain. In total, the new group will control around 450 shops in Spain and will have a turnover of approximately €800 million.
The closing of this transaction is subject to the approvals of the competent authorities for a transaction of this nature, although the parties expect it to materialise during the second half of 2023, according to Servimedia. The two companies’ networks are complementary, as most of Druni’s outlets are located in the Mediterranean area and Madrid, while Arena operates so far, mainly in the north of the Peninsula.
MC Sonae will bring to this agreement its current stake in Arenal, as well as “a significant additional investment”, with which it will create a joint venture with the founding shareholders of Druni.
KWM’s team was led by partner Pablo Díaz along with senior associate Victoria Ruenes and associate Laura Varela.
On the other hand, Cuatrecasas has advised Druni with a multidisciplinary team comprising the following experts: Juan Grima (left), Cristo Gordillo, Megan Hackney, Lucía Trigo and Rocío Rambla, from the Corporate area; Francisco Ferrandis, María Catalán and Juan Buendía, from Tax; Isabel Merenciano (centre) and Marina López, from Labour; Sergio Fernández, Marcos González and Celia Giner, from Public; and Andrew Ward (right), María López and Alexandre Picón, from Competition.