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Leverkusen, September 2, 2019 – Bayer announced today the completion of the sale of the Coppertone™ brand to Beiersdorf for a purchase price of 550 million U.S. dollars. In May of this year, Bayer entered into a definitive agreement to sell Coppertone™ to Hamburg, Germany-based Beiersdorf. Having successfully carved out the business and achieving the customary closing conditions, including approval by antitrust authorities, Bayer is now able to focus on building its core over-the-counter business.
Established in 1944, Coppertone™ was the first sun care brand launched in the US market. It is available in the United States, Canada and China, and generated sales of 213 million U.S. dollars in 2018.
“We are convinced that Beiersdorf is an excellent new owner who will 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 efforts and passion of our people. We look forward to seeing the team and the brand taken to the next level of success under Beiersdorf’s ownership.”
Beiersdorf has now acquired the global product rights to Coppertone™ and takes 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.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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