Spanish Puig Buys a Minority Stake in Brazilian Grupo Granado {Fragrance News}

Following up on news last summer that Puig SA were interested in buying a minority stake in Grupo Granado SA, the deal has now been concluded, it's been reported...

The stake has been bought for 500 million reais ($155 million). Puig companies are interested in investing in the Brazilian market while Granado aim to become more global.

The latter is known to consumers through, in particular, the brand of fragrances and toiletries Phebo which advertizes a retro image and propose simple scents that could become more qualitative.

Read more at Fashion Network and Daily Mail