05.15.19
German-owned Beiersdorf, the manufacturer of skincare brands including Nivea, has purchased the U.S. sun care brand Coppertone from Bayer for $550 million. The Coppertone brand, with its iconic ad image of was first introduced in 1944. The acquisition is intended to strengthen Beiersdorf’s hold in North America. The U.S. is said to be the largest market for sun care protection.
Beiersdorf released a statement saying that Coppertone had sales of around $213 million in 2018. It said the transaction was subject to approval by merger control authorities, but should be closed in the third quarter.
“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 U.S.,” said Beiersdorf chief executive Stefan de Loecker.
The international law firm Freshfields Bruckhaus Deringer advised Beiersdorf AG on the acquisition. As part of the transaction, Beiersdorf will acquire the intellectual property rights of the Coppertone business, a production plant in Cleveland, Tennessee, and about 450 employees.
Beiersdorf released a statement saying that Coppertone had sales of around $213 million in 2018. It said the transaction was subject to approval by merger control authorities, but should be closed in the third quarter.
“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 U.S.,” said Beiersdorf chief executive Stefan de Loecker.
The international law firm Freshfields Bruckhaus Deringer advised Beiersdorf AG on the acquisition. As part of the transaction, Beiersdorf will acquire the intellectual property rights of the Coppertone business, a production plant in Cleveland, Tennessee, and about 450 employees.
