Beiersdorf AG said Aug. 30 that it has completed its $550 million acquisition of sunscreen brand Coppertone from Bayer AG.
Coppertone's global operations will be transferred from Bayer to Beiersdorf, together with approximately 450 staff in the U.S., Canada and China, effective immediately.
The maker of Nivea products said the acquisition will allow the company to broaden its access to the U.S. sunscreen market.
"We are convinced that this step will enable us to significantly accelerate our growth and presence particularly in North America," Beiersdorf CEO Stefan De Loecker said in a statement.
Coppertone posted sales of $213 million in 2018.
In November 2018, Bayer announced its plan to sell its consumer health brands Dr. Scholl's and Coppertone as the company focuses on its core life science businesses.
