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Beiersdorf, the German personal care heavyweight, has announced it has reached a deal to acquire the Coppertone suncare brand from chemicals firm Bayer for a purchase price of $550 million.
Founded in 1944, Coppertone is described as the first sun care brand launched in the US market, and its product range is currently distributed in the USA, Canada and China. It generated sales of $213 million in 2018.
Beiersdorf said Coppertone would be the fifth brand in its North American skin care portfolio, besides Nivea, Eucerin, Aquaphor, and La Prairie.
“This transaction demonstrates our commitment towards competitive, sustainable growth and investment in skin care outlined in the new C.A.R.E.+ strategy”, said Beiersdorf CEO Stefan De Loecker. “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”.
Source: Beiersdorf
