3M Acquires Beiersdorf Brand
3M enters into a definitive agreement to acquire the Futuro health supports and compression hosiery product line from Beiersdorf.
"The Futuro product line brings an established, branded consumer platform to 3M's existing consumer businesses and will expand our offering in the United States, Australia, Europe and Asia," says Dr. Gabi Sabongi, vice president, Consumer Health Care, New Business Ventures, and R&D, 3M Consumer and Office Business. "The addition of Futuro also will broaden our channels for consumer products."
"The Futuro product line brings an established, branded consumer platform to 3M's existing consumer businesses and will expand our offering in the United States, Australia, Europe and Asia," says Dr. Gabi Sabongi, vice president, Consumer Health Care, New Business Ventures, and R&D, 3M Consumer and Office Business. "The addition of Futuro also will broaden our channels for consumer products."
Futuro's complete line of therapeutic and sport supports - wraps, braces, and elastic bandages - provide compression support and heat retention as well as stability to relieve symptoms associated with minor sprains, strains, arthritis and muscle pain. Futuro products are sold through consumer channels including drug stores, mass merchandisers and grocers in North America, and pharmacies internationally.
Commenting on the deal, Thomas B. Quaas, chairman of the Executive Board of Beiersdorf AG, says, "This sale allows us to continue our strategy of focusing on our core business of skin and beauty care. Our goal is to clearly develop our Nivea and Eucerin brands in the U.S. market, while finding the right strategic framework for Futuro. With this transaction new opportunities are opened up for the Futuro business, and it is an excellent conclusion for all involved."
"3M's technology, innovation and expertise will help us to grow and expand the Futuro brand and range of products," adds Dr. Sabongi. Futuro employs approximately 100 people at its operations in Wilton, Conn., and Mariemont, Ohio. Terms of the transaction were not disclosed.