Beiersdorf, the maker of Nivea and other skin care brands, is buying U.S. sun care brand Coppertone. For what amount exactly? 550 million dollars to strengthen its position in North America.
He said in a statement that Coppertone had sales of around $213 million in 2018. The transaction was subject to approval by merger control authorities. That should be closed in the third quarter.
In the first quarter, Beiersdorf’s sales grew by rising 3.7 percent after stripping out currency effects.
De Loecker, who took over as CEO in January, says he wants to look for acquisitions. Sitting on a cash pile of more than 4 billion euros, it has faced calls from investors to return cash to shareholders.
- Nivea Sun is a leading sun care brand in Europe and its Eucerin brand also makes sun care products.