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From Apr 2021 to Apr 2024
By Joshua Kirby
Beiersdorf AG said late Tuesday that it has reached an agreement to buy Chantecaille Beauty's skin-care business.
The German maker of personal-care products said the deal gave the business an enterprise value between $590 million and $690 million, depending on future development. The business is expected to make global sales of more than $100 million this year, Beiersdorf said, adding that the acquisition will help drive growth in the North American and Asian markets.
The transaction with the New York-based cosmetics company is subject to antitrust approval and other customary conditions, and is expected to close next quarter, Beiersdorf added.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
December 22, 2021 01:51 ET (06:51 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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