BERLIN, May 13 (Reuters) - Beiersdorf, the maker of Nivea and other skin care brands, is buying U.S. sun care brand Coppertone from Bayer for $550 million to strengthen its position in North America, the German consumer goods firm said on Monday.
Beiersdorf said in a statement that Coppertone had sales of around $213 million in 2018. It said the transaction was subject to approval by merger control authorities, but should be closed in the third quarter.
“We are convinced that Coppertone and its team will add complementary expertise to our leading brand portfolio and significantly strengthen our position particularly in the U.S.,” said Beiersdorf chief executive Stefan de Loecker. (Reporting by Emma Thomasson; Editing by Mark Potter)