Beiersdorf has entered into a definitive agreement to buy the Coppertone™ business from Bayer for a purchase price of 550 million U.S. $. Through the acquisition, Beiersdorf is entering the world’s largest sun care market. Coppertone™ adds well to Beiersdorf’s skin care portfolio which includes NIVEA, Eucerin, Aquaphor, and La Prairie. The divestiture allows Bayer to focus on building its core over-the-counter brands.
Coppertone™ was founded in 1944 as the first sun care brand launched in the US market. It is headquartered in Whippany, NJ, USA. Today, it is present in the United States, Canada, and China. Bayer took ownership of Coppertone™ in late 2014. The brand generated sales of 213 million U.S. $ in 2018.
Beiersdorf will acquire the global product rights to Coppertone™ and take over approximately 450 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, TN, USA. The transaction is expected to close in the third quarter of 2019 subject to the satisfaction of customary closing conditions, including approval by the competition authorities.
- Beiersdorf AG, Hamburg, Germany
- Bayer AG, Leverkusen, Germany