Bayer sells sun care brand Coppertone to Beiersdorf

German pharmaceutical and life sciences company Bayer has sold the sun care brand Coppertone to personal care products manufacturer Beiersdorf for $550m.

In May this year, Beiersdorf reached a definitive agreement to purchase Coppertone business from Bayer.

The sale completion follows the meeting of mandatory customary closing conditions and the receipt of antitrust approval.

Bayer management board member and consumer health president Heiko Schipper said: “We are convinced that Beiersdorf is an excellent new owner who will continue to invest in and grow the Coppertone brand.

“Since Bayer took ownership of Coppertone in late 2014, we have made progress in revitalising 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.”

With the deal now complete, Beiersdorf gains the global product rights to Coppertone. The company will also take over around 450 brand personnel in the US, Canada, and China, as well as sales, marketing, research & development.

It also includes a production facility in Cleveland, Tennessee, US.

Beiersdorf’s North America skincare portfolio includes Aquaphor, NIVEA, Eucerin and La Prairie.

Coppertone, which was founded in 1944, is marketed in the US, Canada and China. Last year, it generated $213m in sales.