Macy’s, Inc. Completes Bluemercury Acquisition

Macy’s, Inc. (NYSE:M) today announced the completion of its previously announced acquisition of Bluemercury, Inc., widely recognized as America’s largest and fastest-growing luxury beauty products and spa services retailer, for $210 million in cash.

Bluemercury, based in Washington, D.C., currently operates about 60 specialty stores in 18 states, typically in prime street-level locations and urban lifestyle centers, as well as an online business. Macy’s, Inc. plans to operate and significantly expand Bluemercury stand-alone specialty stores, enhance its online capabilities and add selected Bluemercury boutiques and private-brand products to Macy’s stores nationwide over time.

Bluemercury will continue to be led by Marla Malcolm Beck, chief executive officer, and Barry Beck, chief operating officer, who co-founded the company in 1999. Its team of approximately 500 associates will remain in their current roles operating a stand-alone Bluemercury specialty business.
read more/source:  http://phx.corporate-ir.net/phoenix.zhtml?c=84477&p=irol-newsArticle&cat=news&id=2023931

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