The new company, to be called Jacobs Douwe Egberts (JDE), is expected to hold market positions in more than two dozen countries with a strong emerging market presence.
Under the terms of the agreement, Bayer AG will acquire Mercks existing OTC business, including the global trademark and prescription rights for Claritin and Afrin.
As CEO, the executive will be responsible for overseeing the company's business strategy and operations, and will leverage more than 30 years of experience in the food industry.
The acquisition advances Mattel's global growth strategy with expansion into rapidly growing $4 billion Construction Building Sets Category and $2 billion Arts & Crafts Category.
