The April cosmetics retail chain, owned by Metro Cash and Carry Ltd. (JSE:MTC) of South Africa, is about to be sold. Industry source believe that the buyer is an international retail chain. Negotiations to sell April to Israeli companies had lasted for years.
As first reported by ''Globes'', Marionnaud Parfumeries of France, one of the world's largest cosmetics and fastest growing retail chains, is about to enter into a partnership to market cosmetics with New Hamashbir Lazarchan.
Sources inform “Globes” that April VP marketing Narkis Tessler has been appointed director of non-food operations at Blue Square Israel (NYSE: BSI; TASE:BSI).
Doron Kashuv represents Metro Cash and Carry in Israel. Kashuv formers served as CEO of Co-op Tzafon Cooperative Association, in which Metro Cash and Carry was a partner. This chain, which also included New-Pharm-April, was sold to the Borovich-Rosen group, which acquired the New-Pharm, but not April.
April currently has 20 stores, and NIS 135 million in sales. It specializes in luxury perfumes and cosmetics, in contrast to New-Pharm and Super-Pharm, which sell drugs, detergents, snack foods and toiletries.
April stated in response that negotiations for the sale of the company were underway, but no deal had been concluded yet.
Published by Globes [online] - www.globes.co.il - on June 8, 2004