ST. PAUL, Minn. 3M and Beiersdorf on Monday announced that 3M has entered into a definitive agreement to acquire the Futuro health supports and compression hosiery product line from Beiersdorf.
Terms of the transaction were not disclosed.
“The Futuro product line brings an established, branded consumer platform to 3M’s existing consumer businesses and will expand our offering in the U.S., Australia, Europe and Asia,” said Gabi Sabongi, vice president of consumer health care, new business ventures, and research and development for 3M Consumer and Office Business.
The Futuro brand is expected to complement 3M’s line of first aid products that are sold under its Nexcare banner.
“3M’s technology, innovation and expertise will help us to grow and expand the Futuro brand and range of products,” Sabongi said.
“[For Beiersdorf], this sale allows us to continue our strategy of focusing on our core business of skin and beauty care,” said Thomas Quaas, Beiersdorf chairman. “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.”