EMAIL DETAILS

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>
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> http://dealbook.nytimes.com/2015/02/03/macys-to-acquire-bluemercury/ <http://dealbook.nytimes.com/2015/02/03/macys-to-acquire-bluemercury/>
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> Macy’s to Acquire Bluemercury
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> Macy’s, the big department store operator, said on Tuesday that it had agreed to acquire Bluemercury, the spa and beauty chain, for $210 million. For Macy’s, which also owns the Bloomingdales chain of department stores, adding Bluemercury gives it a third brand and an enlarged growing national presence.
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> Based in Washington, Bluemercury operates 60 stores in 18 states, and has a growing e-commerce business as well. Most of the stores sell a range of cosmetics and beauty products, including a proprietary line of high-end skincare items, and also offer spa treatments.
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> “Beauty is a core signature business for Macy’s and Bloomingdale’s and a continued platform for our company’s profitable sales growth,” Terry J. Lundgren, Macy’s chief executive officer, said in a statement. “With Bluemercury, our company can access a new channel to reach additional customers, add new dimensions to our product offering and apply our expertise in omnichannel retailing.”
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> Marla and Barry Beck, a husband and wife team who founded Bluemercury in 1999, will remain with the company in their current roles as chief executive and chief operating officer, respectively.
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> “Keeping Bluemercury as a standalone business, while adding new expertise, will enable us to fulfill our mission of being the best at giving beauty advice and helping our customers make their way through the often complex process of purchasing beauty products,” Ms. Beck said.
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> Macy’s said it expected the deal to close in the first quarter, and also announced several management changes and raised its earnings guidance for 2014. Shares of Macy’s were up 3 percent in after hours trading.
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> Macy’s received financial advice from Credit Suisse and legal advice from Jones Day. Bluemercury was advised by Goldman Sachs and the law firms Patterson Belknap Webb & Tyler, and Cooley