LEVERKUSEN (dpa-AFX) - Bayer (BAYZF.PK, BAYRY.PK, BYR.L) agreed to sell its sun care brand Coppertone to Beiersdorf for $550 million to focus on building its core over-the-counter brands. The transaction is expected to close in the third quarter of 2019.
Founded in 1944, Coppertone was the first sun care brand launched in the US market. It is headquartered in Whippany, New Jersey, USA, and present in the United States, Canada, and China. Coppertone generated sales of $213 million in 2018.
Beiersdorf will acquire the global product rights to Coppertone and take over about 450 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.
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