German personal care manufacturer Beiersdorf has announced plans to acquire a stake in Chinese hair care brand, C-BONS.
The manufacturer has already signed a letter of intent, with the brand's parent company, C-BONS Holding and both sides have agreed to further discussions over potential equity investment opportunities, although no terms of the deal have been released. The two companies will however start to cooperate in areas including distribution, marketing and R&D.
Beiersdorf's interest in the Hong-Kong based hair care specialist is part of a larger plan to accelerate its expansion on the Chinese market.