Beiersdorf acquires majority stake in C-Bons, bolsters foothold in China
HAMBURG, Germany Beiersdorf AG is bolstering its foothold in China by acquiring, through its Austrian 100 percent affiliate Beiersdorf CEE Holding GmbH, a majority stake in C-Bons Hair Care.
Once the deal closes, which is expected to occur by the end of 2007, Beiersdorf will have an 85 percent stake in the company. Global Source will maintain a 15 percent stake in the business for an interim period of at least two years after the closing. After that period, Beiersdorf has the option to acquire the remaining 15 percent stake.
Wu Yong-nan, current president of C-Bons Hair Care, will become chief executive officer of the new company at the close of the deal. Werner Brettschneider, Beiersdorf’s newly appointed president for Greater China, will become chairman of the new entity.
The C-Bons Hair Care business complements Beiersdorf’s skin care business and its hair care products.
“We are very pleased to have taken another significant step forward in the China market,” stated Thomas-B. Quaas, Beiersdorf chief executive officer. “C-Bons Hair Care is an ideal extension of our already successful Nivea business, adding established domestic consumer brands and strong market positions.”
Energizer completes acquisition of Playtex
ST. LOUIS Energizer Holdings has completed its acquisition of Playtex Products, a move that expands its presence in the personal care segment.
The deal was for $18.30 per share in cash plus the assumption of debt. Shareholders of Playtex approved the deal on Sept. 27.
Energizer also announced that, under the previously announced tender offer for the outstanding 8 percent senior secured notes due 2011 and 9-3/8 percent senior subordinated notes due 2011 of Playtex, the company has purchased $286.3 million of the 8 percent notes, representing 98.7 percent of the outstanding notes, and $276.7 million of the 9-3/8 percent notes, representing 95.8 percent of the outstanding notes. Energizer has deposited funds with the trustees for each issue in order to defease the remaining notes. The 8 percent notes have been defeased to a March 3, 2008 redemption date and the 9-3/8 percent notes have been defeased to an Oct. 12, 2007 redemption date. The tender offer remains open under 5 p.m. EST on Oct. 3, 2007.
Energizer stated that the funds required for the acquisition and the tender offer are being provided primarily from Energizer’s previously announced $1.5 billion term loan agreement entered into on Sept. 14. The company expects that the term loan will be refinanced in the private placement market or through other credit facilities over the next several months.
Playtex Products’ portfolio includes Banana Boat, Hawaiian Tropic, Playtex tampons, Wet Ones, Playtex gloves and Playtex infant feeding products.
GSK and ADA spearhead oral health initiative
SAN FRANCISCO Recognizing the associations between oral health and overall health, GlaxoSmithKline Consumer Healthcare, the American Dental Association and the ADA Foundation have introduced a new initiative targeting oral health of older Americans.
The program, dubbed OralLongevity, provides older adults, their families, caregivers and dental professionals with education and other free resources to boost the awareness and need for better oral health.
According to a recent report from the Centers for Disease Control and Prevention, more adults are keeping their natural teeth longer well beyond the age of 65. However, changes in physical and mental functions could hamper some older adults from taking proper care of their teeth and gums, increasing the risk of dental disease that could complicate other health conditions.
To help inform consumers, the Web site offers free, downloadable dental tips. Consumers also can download at www.orallongevity.ada.org the free OralLongevity DVD and brochure that was unveiled to nearly 50,000 dental professionals attending the ADA’s 148th Annual Session.
Dental problems can cause pain and suffering as well as difficulty in speaking, chewing and swallowing. Older adults can also suffer from dry mouth, resulting from certain medications used to treat other health conditions. Complications associated with medical conditions can impact the ability to maintain good oral health.
“For example, dry mouth and sensitive teeth can be managed and relieved through dental care, behavioral changes and over-the-counter products,” stated Dr. Richard Price, ADA consumer advisor and retired dentist. “The dentist is a key part of your health care team to advise you on individual oral health needs as you age.”