Beiersdorf acquire Bayer’s Coppertone brand $550 mn

Beiersdorf to acquire Bayer’s Coppertone brand for $550 mn

5:30 AM, 16th May 2019
Beiersdorf logo

HAMBURG/LEVERKUSEN, GERMANY: Beiersdorf AG has entered into a definitive agreement to buy the Coppertone business from Bayer AG, for a purchase price of $550 million. The transaction is expected to close in the third quarter of 2019.

Through the acquisition of Coppertone, Beiersdorf is entering the world’s largest sun care market and strengthening its presence in North America. Coppertone will become the fifth brand in Beiersdorf’s skin care portfolio in North America, beside NIVEA, Eucerin, Aquaphor, and La Prairie. The divestiture enables Bayer to focus on building its core over-the-counter brands.

Beiersdorf will acquire the global product rights to Coppertone and take over approximately 450 dedicated brand personnel in the United States, Canada, and China including Sales and Marketing, Research & Development and others, as well as a production facility in Cleveland, Tennessee, US.

“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. We are pleased to offer the iconic Coppertone brand and its dedicated, experienced employees a new home next to NIVEA Sun and Eucerin Sun,” said Stefan De Loecker, Chief Executive Officer of Beiersdorf.

“We believe that we have found the right partner in Beiersdorf to continue to invest in and grow the Coppertone brand. We look forward to seeing the brand taken to the next level of success under Beiersdorf’s ownership,” added Heiko Schipper, member of Bayer’s Board of Management and President of Consumer Health.

Sawaya Partners and Citi acted as financial advisors to Bayer, while Covington & Burling provided legal advice. Beiersdorf received financial advice by Credit Suisse and Perella Weinberg Partners, while Freshfields Bruckhaus Deringer acted as legal advisor.

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