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Beiersdorf Sells Hygiene Line
Posted: October 21, 2008
Paul Hartmann AG signed an agreement with Beiersdorf AG to acquire a 100% interest in Beiersdorf affiliate Bode Chemie GmbH & Co. KG—a specialist in skin disinfecting products. Ownership is expected to transfer at the end of the year. The parties have agreed not to disclose the purchase price. The purchase agreement includes a long-term guarantee for the Hamburg location and no compulsory redundancies.
Bode Chemie introduced Sterillium to the European market—the first marketable alcohol-based hand disinfectant, according to a press statement. Bode Chemie has approximately 280 employees and generated sales of €70 million in 2007.
The integration of Bode Chemie into the Hartmann Group allows the latter to expand its range of hygiene products in the growing market for infection prevention. While Bode Chemie has primarily been active in the clinic sector to date, Hartmann's sales network focused on medical practices and care facilities offers additional growth potential for disinfection products, the company stated.
"We see the acquisition of Bode as a strategically important step that excellently complements our focused growth strategy," said Rinaldo Riguzzi, chairman of the executive board of Paul Hartmann AG. "It offers new opportunities to expand our system solutions in the area of disinfection. Bode has an extremely good reputation on the market. The synergy effects are obvious."
The sale of Bode Chemie is also in line with Beiersdorf's strategy, the company stated. In recent years, the executive board has focused the company's development on skin and beauty care, increasing its orientation on the growing cosmetics market.