Beiersdorf has signed a definitive agreement to acquire Coppertone business from Bayer for $550m.

Set up in 1944, New Jersey-based Coppertone is claimed to be the first sun care brand in US.

It has presence in Canada, and China. In 2018, the brand generated sales of $213m.

Beiersdorf intends to strengthen its portfolio in North America in the sun care market through this acquisition.

Beiersdorf’s current skin care portfolio in North America includes Aquaphor, NIVEA, Eucerin and La Prairie.

Beiersdorf CEO Stefan De Loecker said: “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.

“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.”

Bayer board of management member and president of consumer health Heiko Schipper said: “
We believe that we have found the right partner in Beiersdorf to continue to invest in and grow the Coppertone brand.

“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.”

Beiersdorf will buy the global product rights to Coppertone.