BERLIN (dpa-AFX) - German consumer major Beiersdorf AG (BDRFY.PK, BDRFF.PK) said that it has reached an agreement with the shareholders of Chantecaille Beaute Inc., USA, to buy prestige skin care business Chantecaille.
Depending on the future development of the Chantecaille business, the enterprise value is between $590 million and $690 million.
In 2021, it is expected that Chantecaille will generate global sales in excess of $100 million.
The completion of the transaction is subject to merger control clearance as well as further customary closing conditions and is expected to close in the first quarter of 2022.
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