July 2019 Spray 47
Mergers & Acquistions
Beiersdorf AG has agreed to buy Bayer AG’s Coppertone
sun care brand for $550 million. The brand had sales
of about $213 million last year, and will expand Beiersdorf’s
presence in the U.S. where it already sells Nivea.
In November, Bayer announced that it had planned to
sell Coppertone, Dr. Scholl’s and other businesses to cut
debt the company assumed in the $63 billion takeover of
Monsanto. The purchase of Coppertone is expected to be
completed in the third quarter of 2019.
As we go to press, Avon Products Inc., London, is in advanced
discussions with Brazilian beauty company Natura Cosmeticos SA to
be acquired in an all-cash transaction involving
a share swap. Under the terms of
the deal, Natura would hold 76% of the
combined business with over $10 billion
in annual revenue, according to a statement
from the Brazilian personal care
firm. Natura also purchased retail shops
Aesop and The Body Shop in recent
years. Avon is estimated to be valued at approximately $2 billion.
Nestlé is selling Nestlé Skin Health to a consortium led by EQT and
ADIA for CHF 10.2 billion ($10.1 billion). Nestlé Skin Health includes
brands such as Proactiv and Cetaphil and employs more than
5,000 people in 40 countries. The transaction is expected to close in
the second half of 2019.
A previously announced merger between thyssenkrupp’s Steel
Europe AG business and Tata Steel has been abandoned due to
concerns by the European Commission and fears that the merger
would not be approved. The companies determined that changes
to the agreement would adversely affect the intended synergies and
economics of the merger.
The Hut Group (THG) has acquired hair care brand Christophe
Robin for an undisclosed sum. The brand was founded in 1999 in
Paris by celebrity colorist Christophe Robin and has more than 70
natural products that are sold worldwide in retailers such as Sephora
and Space NK and online. THG already owns beauty brands ESPA,
Mio Skincare, Mama Mio, Grow Gorgeous, Illamasqua and
Ameliorate. Robin’s independent salon in Paris is not part of the
acquisition.
AptarGroup, Inc. has acquired pharma analytical services Nanopharm
Ltd. and Gateway Analytical LLC, for a total of approximately
$50 million. Nanopharm and Gateway will continue to
operate as separate entities. Nanopharm, located in Newport,
UK, will broaden Aptar Pharma’s offerings in inhalation services.
Nanopharm’s Founder & Chief Scientific Officer Robert Price and
CEO Jag Shur will continue in their roles at Nanopharm. Gibsonia,
PA-based Gateway Analytical will expand Aptar Pharma’s injectable
services offerings. They will join Aptar’s 2008 acquisition, Next
Breath, to form Aptar Pharma Services.
Kate Spade New York and Inter Parfums have formed an 11-year
global licensing agreement for Kate Spade Fragrance. Under the
agreement, Inter Parfums will create, produce and distribute new
perfumes and fragrance-related products globally for department and
specialty stores and duty-free shops, as well as in Kate Spade New
York retail stores beginning in the fall of 2020. Financial terms of
the deal were not disclosed.
BASF and siHealth Ltd. have partnered to allow BASF to market
scientifically-based digital and personalized technologies to the personal
care industry, especially in the sun care market. BASF noted
a growing trend for individualized personal care products globally.
siHealth’s technologies have traditionally been targeted to the health
care industry. Spray