The German cosmetics manufacturer Beiersdorf announced on Tuesday that it has invested over 270 million euros to acquire an 85 percent stake in leading Chinese hair care products manufacturer C-BONS Hair Care.
With this move, Beiersdorf aims to strengthen its position in the vast Chinese cosmetics market, as China becomes the focus of its international business strategy. In an interview published in the Frankfurt daily FAZ, the company’s CEO Thomas-Bernd Quaas stated that Beiersdorf has reserved more than two billion euros for acquisitions, highlighting China, Russia, Brazil, and India as the most desirable destinations. "We would not hesitate to invest if we found suitable companies in those countries," Quaas emphasized in the FAZ interview. (H)
