Beiersdorf has entered into a definitive agreement to buy the Coppertone™ business from Bayer for a purchase price of $550 million.
WHO: Founded in 1944, Coppertone was the first sun care brand launched in the US market. It is headquartered in Whippany, New Jersey, and present in the United States, Canada, and China. The brand generated sales of $213 million in 2018.
Beiersdorf AG is a leading provider of innovative, high-quality skin care products and has over 135 years of experience in this market segment. Its product portfolio comprises strong, international leading skin and body care brands including NIVEA, Eucerin, Hansaplast/Elastoplast, La Prairie, Labello, Aquaphor, Florena, 8×4, Hidrofugal, atrix, SLEK.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population.
WHY: Through the acquisition of Coppertone, Beiersdorf is entering the world’s largest sun care market and strengthening its presence in North America. The divestiture enables Bayer to focus on building its core over-the-counter brands.
IN THEIR OWN WORDS: “This transaction demonstrates our commitment towards competitive, sustainable growth and investment in skin care outlined in the new C.A.R.E.+ strategy. Skin care is at the heart of Beiersdorf—and caring for skin health through sun protection has been an essential pillar of our business for over 60 years,” said Stefan De Loecker, Chief Executive Officer of Beiersdorf. “We are pleased to offer the iconic Coppertone brand and its dedicated, experienced employees a new home next to NIVEA Sun and Eucerin Sun. The sun care pioneers of Europe and the US will join forces under one umbrella to provide trusted sun protection to consumers around the world. We are convinced that Coppertone and its team will add complementary expertise to our leading brand portfolio and significantly strengthen our position particularly in the US.”
“We believe that we have found the right partner in Beiersdorf to continue to invest in and grow the Coppertone™ brand,” said Heiko Schipper, member of Bayer’s Board of Management and President of Consumer Health. “Since Bayer took ownership of Coppertone™ in late 2014, we have made progress in revitalizing the brand and developing an exciting pipeline of innovative products thanks to the dedicated efforts of many employees, to whom we are grateful. We look forward to seeing the brand taken to the next level of success under Beiersdorf’s ownership.”
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