Beiersdorf Group, which manufactures and retails personal-care products and self-adhesives including Nivea, Elastoplast and Eucerin, has entered into a definitive agreement to acquire prestige beauty brand Chantecaille Inc., USA.
In a statement, Beiersdorf said that Chantecaille would be managed separately as a complementary selective brand, next to the anti-ageing skincare brand, La Prairie.
Chantecaille, founded by Sylvie Chantecaille in 1997, offers innovative skincare, fragrance and cosmetics products based on botanical ingredients combining efficacious formulas with a strong focus on sustainability and philanthropy.
The skincare brand, headquartered in New York, has a global presence and a particular strength in North America and Asia. In 2021, it is expected that Chantecaille will generate global sales in excess of 100 million US dollars, and Beiersdorf notes that depending on the future development of the business that the enterprise value is between 590 million and 690 million US dollars.
Beiersdorf hopes to accelerate the brand’s growth in the North America and Asian markets, in line with its C.A.R.E + business strategy to pursue a multi-year investment programme focusing on competitive, sustainable growth.
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.”
Sylvie Chantecaille, chief executive and Founder of Chantecaille, added: “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.”
The transaction, subject to merger control clearance as well as further customary closing conditions, is expected to close in the first quarter of 2022.