Beiersdorf acquires iconic sun care brand from Bayer
Beiersdorf and Bayer announced recently that Beiersdorf has entered into a definitive agreement to buy the “Coppertone” business from Bayer for a purchase price of 550 million U.S. dollars. Founded in 1944, “Coppertone” was the first sun care brand launched in the US market. It is headquartered in Whippany, New Jersey, USA, and present in the United States, Canada, and China. This sun care brand generated sales of 213 million U.S. dollars in 2018.
Entering the world´s largest sun care market
Through the acquisition of this brand the company is entering the world’s largest sun care market and strengthening its presence in North America. The acquire brand will become the fifth brand in the company´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.
“Skin care it at the heart of Beiersdorf”
“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,” said Stefan De Loecker, Chief Executive Officer of the company. “We are pleased to offer the iconic Coppertone™ brand and its dedicated, experienced employees a new home next to “Nivea Sun” and “Eucerin Sun”. The sun care pioneers of Europe and the US will join forces under one umbrella to provide trusted sun protection to consumers around the world. 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 US.”
“We look forward to seeing the brand taken to the next level of success”
“We believe that we have found the right partner in Beiersdorf to continue to invest in and grow the “Coppertone” brand,” said Heiko Schipper, member of Bayer’s Board of Management and President of Consumer Health. “Since Bayer took ownership of “Coppertone” in late 2014, we have made progress in revitalizing the brand and developing an exciting pipeline of innovative products thanks to the dedicated efforts of many employees, to whom we are grateful. We look forward to seeing the brand taken to the next level of success under Beiersdorf’s ownership.”
Product rights and personnel
Beiersdorf will acquire the global product rights to the brand 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, 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.