Li Ka-shing’s retail flagship, A.S. Watson Group, said it has agreed to acquire the Dutch pharmacy chain Dirx Drugstores in the latest expansion of its European health and beauty business, The Wall Street Journal reported.
Watson said Wednesday it is buying 50 Dirx stores and will open five new outlets. It didn’t disclose financial details.
The Dirx stores will come under either of Watson’s drugstore chains in the Netherlands and Belgium, Kruidvat or Trekpleister, it said.
Watson is a unit of Hutchison Whampoa (00013.HK) and also owns the ParknShop supermarkets in Hong Kong and retailers of wine and electrical goods.
The firm is the largest health and beauty retailer in Asia and Europe, with more than 11,000 stores in 25 markets.
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