07.26.19
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 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.
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.
