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Beiersdorf announced it will completely take over its Swiss affiliate, which has historically been a joint venture operation. Beiersdorf will acquire a 50% stake in Swiss Beiersdorf AG, Münchenstein, from the Doetsch Grether Group, Basel, and will thus consolidate Beiersdorf AG, Switzerland, at 100%.
The transaction will be completed once all necessary approvals have been obtained. Founded as a 50:50 joint venture in 1977, the Beiersdorf AG, Münchenstein, has been successfully selling and distributing Beiersdorf’s major brands Nivea, Eucerin and Labello in Switzerland. In 2007, the company is expecting to generate sales of around CHF 175 million (around €105 million).
With successful brands, Beiersdorf has had a leading position in the Swiss cosmetics market for years. Swiss consumers are leading in Europe on a per capita basis, spending an average of €20 on Nivea products every year, according to the company. In second place are Austrian consumers with an annual average spend of €13 per head, followed by Belgians at €12 and Germans at €11.