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Beiersdorf acquires interest in C-BONS

This article was originally published in The Rose Sheet

Executive Summary

German personal-care marketer has purchased an 85% stake in C-BONS, a Chinese hair-care firm, under an agreement with Global Source Investments Limited of the British Virgin Islands and C-BONS Holding Limited of Hong Kong, Beiersdorf announces Oct. 2. Purchased through its Austrian affiliate Beiersdorf CEE Holding GmbH, the investment is valued at $$381.24 mil. The transaction is expected to close before the end of the year. Global Source will maintain a 15% stake in C-BONS for two years after closing and will "continue to support and provide continuity for the business." At the end of two years, Beiersdorf will have the option of purchasing the 15% stake for a minimum price of $67.25 mil. The current president of C-BONS, Wu-Yong-nan, will be the CEO of the new entity; Werner Brettschneider, Beiersdorf chief for Greater China, will be chairman of the board. C-BONS complements Beiersdorf's Nivea and Eucerin skin-care business in China as it offers "strong and well-known" hair-care brands such as Slek and Maestro and a developed distribution network, Beiersdorf says...
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