Welcome Guest to Happi

Subscribe Free: Magazine | eNewsletter

current issue August 2015
 •  Stepan Named EPA Safer Choice Partner of the Year  •  City of Hope Honors Pravana Founder & CEO Steve Goddard  •  Castanea Acquires Minority Stake in First Aid Beauty  •  Ecolab Acquires Swisher Hygiene  •  BASF Opens Tarrytown Consumer Testing Center
Print

Beiersdorf Considers



Published November 14, 2005
Related Searches: growth executives read continue
Post a comment
Despite takeover speculation, German giant Beiersdorf insisted at its annual meeting that with growth targets intact, the company remains strong enough to go it alone.
Industry sources commented that a tentative proposal by rival Henkel to link up with Beiersdorf had been spurned by Tchibo, which owns 30% of Beiersdorf. Allianz, which holds 44% of the company, has said it would sell its holding at the right price, but Beiersdorf executives insisted the company is currently seeking to make takeovers of its own.
“We are clearly big enough to continue to grow more strongly than most of our competitors under our own steam,” insisted chief executive Rolf Kunisch. “We are also interested in acquisitions, particularly in the U.S. Beiersdorf Inc. USA is already our largest business after Germany and with $300 million in annual sales there, we already have a very considerable presence. But the U.S. is so big that an even bigger chunk would be helpful.”


blog comments powered by Disqus