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Puig has purchased a minority stake in Granado, a Brazilian pharmacy. A purchase price was not disclosed. The move supports Granado's internationalization and gives Puig further access to one of the biggest personal care markets in the world. Granado also owns Phebo, a well-known Brazilian soap brand, which the company acquired in 2004.
"Puig will help us to continue with the expansion of the concept stores in Brazil and abroad—which started in 2013 in the French market, with a corner in the luxury department store Le Bon Marché," explained Sissi Freeman, marketing and sales director, Granado.