beiersdorf-buys-chinese-haircare-business

Beiersdorf buys Chinese haircare business

The German company will spend $383 million on an 85% stake in C-BONS Hair Care with the option to increase its stake to 100% in two years.
Beiersdorf, which operates as Nivea Shanghai in China, is to buy 85% of C-BONS Hair Care, a leading player in the Chinese haircare market for Ç269.45 million $383 million.

The deal reinforces that emerging markets like China and India, which present large opportunities for penetration of personal care products, are priority markets for future growth for multinationals such as Beiersdorf. And accordingly, players are having to adapt to local market conditions and adopt strategies suited for success in these markets.

A letter of intent between Beiersdorf and C-BONS was signed in February. Since then, C-BONS, which is owned by a Hong Kong based businessman, has been engaged in a restructuring exercise. C-BONS had several...
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