Beiersdorf Acquires American Sun Protection Brand
As Beiersdorf recently announced, the company is acquiring Bayer's Coppertone brand. The sun protection label was founded in the USA and sells its products mainly in its home country and in China. This acquisition is the first major transaction under Beiersdorf's new C.A.R.E.+ strategy.
Beiersdorf Hoping for Stronger Business in USA
German chemical and pharmaceutical concern Bayer took over Coppertone at the end of 2014. In the past fiscal year, the brand generated sales of USD 213 million. The company has now reached an agreement with Beiersdorf to acquire it for a total of USD 550 million.
Coppertone's business is mainly carried out in the USA, the world's largest sun protection market. Above all, the acquisition is intended to strengthen Beiersdorf's position overseas, having already established a presence in the United States with Nivea, Eucerin, Aquapor and La Prairie.
Acquisition as Part of the C.A.R.E.+ Strategy
Two key points of Beiersdorf's C.A.R.E.+ strategy are competitive, sustainable growth and investment. With the acquisition of Coppertone, the company plans to meet these requirements. After the transaction, the company will take over the 450 employees in the USA, Canada and China, as well as the production plant in Tennessee, USA.
Source, photo: Beiersdorf