On 2 October 2007, Beiersdorf AG entered into a share purchase agreement with Global Source Investments Limited, Peak Victory Group Limited and C-BONS Holding Limited to acquire an 85% stake in the hair care business of C-BONS (“C-BONS Hair Care”). C-BONS Hair Care is the largest domestic player in the hair care sector in China with its products marketed under the Slek, Hair Song , S-Dew and Maestro brands.
The transaction values C-BONS Hair Care at €317m, which is the largest M&A transaction in the personal care sector in China following Procter & Gamble’s buyout of its partner, Hutchison Whampoa, in 2004. The acquisition of C-BONS Hair Care is the first and major acquisition in China for Beiersdorf which is better known for its NIVEA and c brands.
BNP Paribas Corporate Finance acted as exclusive Financial Advisor to Beiersdorf. The transaction was successfully closed on 5 December 2007.