Beiersdorf and Bayer announced today that Beiersdorf has entered into a definitive agreement to buy the Coppertone™ business from Bayer for a purchase price of US$ 550 million. The brand was sold in 2014 by Merck to Bayer for $ 14.2 billion, so Merck could focus on vaccines and treatments.
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. Coppertone™ generated sales of 213 million U.S. dollars in 2018. Through the acquisition of Coppertone™, Beiersdorf is entering the world’s largest sun care market and strengthening its presence in North America. Coppertone™ will become the fifth brand in Beiersdorf’s skin care portfolio in North America, beside 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. 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 Beiersdorf. 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 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.
Beiersdorf will acquire the global product rights to Coppertone™ 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.