Beiersdorf acquires 85% stake in C-BONS
German cosmetics and consumer goods group Beiersdorf AG, which makes the Nivea range of products, has moved into the Chinese hair care cosmetics market with the acquisition of C-BONS Haircare, part of the Hong Kong-based mixed concern, C-BONS. The price paid was €269m. The German company has taken an 85% stake in the Chinese enterprise and the balance of the equity will remain with the Chinese parent company though Beiersdorf has an option to acquire the remaining capital.
German cosmetics and consumer goods group Beiersdorf AG, which makes the Nivea range of products, has moved into the Chinese hair care cosmetics market with the acquisition of C-BONS Haircare, part of the Hong Kong-based mixed concern, C-BONS. The price paid was €269m. The German company has taken an 85% stake in the Chinese enterprise and the balance of the equity will remain with the Chinese parent company though Beiersdorf has an option to acquire the remaining capital.
The two companies have been cooperating for about six months over the marketing of Nivea body care products and creams and Beiersdorf's medical hair care product Eucerin. The Chinese company offers a wide range of hair care products including conditioners and styling agents - the main brands are SLEK and Maestro.
China is one of four markets in which the German group is keen to strengthen its presence along with Brazil, Russia and India. Sales in China last year rose 50% to €60m, with Nivea products accounting for most of the total. C-BONS Haircare posted sales in 2006 of €115m.