Beiersdorf AG has entered into an agreement to acquire beauty brand Chantecaille in a deal that values the business between $590 million (€520 million) and $690 million (€608.3 million).
The company will continue to be managed separately as a complementary selective brand in the Beiersdorf Group, next to La Prairie, Beiersdorf added.
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.
C.A.R.E.+ Strategy
Vincent Warnery, chief executive officer of Beiersdorf, said, “Through the acquisition of Chantecaille, we are bolstering our portfolio in prestige beauty and strengthening our position, especially in the United States, China and Korea, which is a priority of our C.A.R.E.+ strategy.
“We are pleased to welcome Chantecaille and its dedicated team to the Beiersdorf family. With its strong philanthropic approach, Chantecaille is a clarion voice for global environmental concerns and supports conservation efforts around the world that are in line with Beiersdorf’s sustainability agenda 'Care Beyond Skin'.”
Sustainability And Philanthropy
Founded by Sylvie Chantecaille in 1997, Chantecaille offers skincare, fragrance, and cosmetics products based on botanical ingredients with a strong focus on sustainability and philanthropy.
The company, headquartered in New York, operates across the globe with a strong market presence in North America and Asia.
The cosmetics company expects to generate global sales of over USD 100 million in 2021.
Sylvie Chantecaille, CEO and founder of Chantecaille, commented, “We looked very carefully for a great steward that could help take Chantecaille to the next level and continue to further Chantecaille’s acceleration as a leader in natural beauty. The fact that Beiersdorf shares the same core values made them an ideal choice.”
Lazard acted as financial advisor to Beiersdorf, while Freshfields Bruckhaus Deringer provided legal advice.
Jefferies acted as financial advisor to Chantecaille, while Kirkland & Ellis acted as legal advisors.
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© 2021 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
