Macy's Completes Bluemercury Acquisition

(RTTNews) - Department store operator Macy's, Inc. (M) said Monday that it has completed its acquisition of luxury beauty products and spa services retailer Bluemercury, Inc. for $210 million in cash. The deal was announced last month.

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 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 about 500 associates will remain in their current roles operating a stand-alone Bluemercury specialty business.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2014 sales of $28.105 billion. The company operates about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Bloomingdale's Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale's in Dubai is operated by Al Tayer Group LLC under a license agreement.