Target acquiring e-commerce portfolio DermStore Beauty Group

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Target Corp. (NYSE: TGT) today announced an agreement to acquire the DermStore Beauty Group. The acquisition positions Target to expand its share of the rapidly evolving online beauty market and will further differentiate the company’s offerings in this important retail segment.

Following the transaction closing, DermStore will become a new, wholly owned subsidiary of Target. DermStore will continue to operate as a separate entity under its online name, DermStore.com. Target believes this transaction presents a strategic growth opportunity; however, there will not be any material impact to Target’s 2013 results.”

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