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Beiersdorf Sells Bode Chemie to Paul Hartmann

December 8, 2008

GERMANY: Paul Hartmann AG has signed an agreement with Beiersdorf AG to acquire a 100% interest in Beiersdorf’s affiliate Bode Chemie GmbH & Co. KG. The purchase agreement includes a long-term guarantee for Bode’s Hamburg locations. Ownership is expected to transfer at the end of the year. Bode Chemie, established in 1924, is one of Europe’s leading specialists for disinfection, hygiene and skin protection. Its roster includes Sterillium, an alcohol-based hand disinfectant. The company has approximately 280 employees and sales of approximately $89 million (at current exchange rates) in 2007.

“We see the acquisition of Bode as a strategically important step that excellently complements our focused growth strategy. It offers new opportunities to expand our system solutions in the area of disinfection. Bode has an extremely good reputation on the market. The synergy effects are obvious,” said Dr. Rinaldo Riguzzi, chairman of the executive board of Paul Hartmann AG.

The sale of Bode Chemie is in line with Beiersdorf’s strategy to focus on skin and beauty care.

“The agreement is a good overall solution for all involved,” said Beiersdorf’s chairman of the executive board Thomas-B. Quaas. “Beiersdorf can create good prospects for its affiliate by selling it to Hartmann while systematically pursuing its own successful course in the international growth markets for skin and beauty care.”
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