Beiersdorf acquires prestige beauty brand Chantecaille
German consumer goods firm Beiersdorf announced on Tuesday an agreement to acquire prestige beauty company Chantecaille Beaute Inc., USA.
As part of the acquisition, Chantecaille will continue to be managed separately as a complementary selective brand in the Beiersdorf Group. The brand is expected to complement Beiersdorf’s premium skin care offering with La Prairie.
Founded by Sylvie Chantecaille in 1997, Chantecaille is headquartered in New York and is well-known globally for its innovative skin care, fragrance and cosmetics products, in particular in North America and Asia.
The firm has recovered well after feeling the impacts of the coronavirus pandemic. In 2021, it is expected to generate global sales in excess of USD 100 million. Meanwhile, looking ahead, the enterprise value is expected to be between USD 590 million and USD 690 million.
“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,” said Vincent Warnery, chief executive officer of Beiersdorf.
“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.”
“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,” added Sylvie Chantecaille, CEO and founder of Chantecaille.
Lazard acted as financial advisor to Beiersdorf, while Freshfields Bruckhaus Deringer provided legal advice. Jefferies acted as financial advisor to Chantecaille, while Kirkland & Ellis provided legal advice.
Copyright © 2023 FashionNetwork.com All rights reserved.