3M to Acquire Futuro Product Line from Beiersdorf
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3M Corporate Headquarters, 3M Center
St. Paul, MN, 55144
Press release date: November 24, 2008
- Acquisition Expands 3M's Consumer Health Supports Business -
ST. PAUL, Minn. & WILTON, Conn.--3M and Beiersdorf announced today 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.
Health supports are widely used by active consumers, including those who participate in fitness, outdoor and sports activities. Futuro's complete line of therapeutic and sport supports - wraps, braces, and elastic bandages - provide compression support and heat retention as well as stability to relieve symptoms associated with minor sprains, strains, arthritis and muscle pain. Futuro's compression hosiery products include therapeutic and anti-embolism stockings. Futuro health supports and Futuro compression hosiery products are sold through consumer channels including drug stores, mass merchandisers and grocers in North America, and pharmacies internationally.
"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 Dr. Gabi Sabongi, vice president, Consumer Health Care, New Business Ventures, and R&D, 3M Consumer and Office Business. "The addition of Futuro also will broaden our channels for consumer products."
In addition, 3M delivers high-performance products under its Nexcare brand to help people heal comfortably - from braces for the knee, wrist, ankle and back, to products for after surgery care, skin care and athletic wraps under its broad line of Nexcare branded bandage and first aid products.
"3M's technology, innovation and expertise will help us to grow and expand the Futuro brand and range of products," said Dr. Sabongi. Futuro employs approximately 100 people at its operations in Wilton, Conn., and Mariemont, Ohio. 3M values all employees and their commitment to the Futuro business.
"This sale allows us to continue our strategy of focusing on our core business of skin and beauty care," said Thomas B. Quaas, Chairman of the Executive Board of Beiersdorf AG. "Our goal is to clearly develop our Nivea and Eucerin brands in the US 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."
Futuro's longstanding reputation for leadership and innovation can be traced back to the early 1900s with the development of its first brace. In 1996 Futuro was acquired by Beiersdorf which introduced the Futuro products internationally. With production facilities still in Cincinnati, today Futuro offers a complete product line of supports and compression hosiery products in 36 countries around the world.
About Beiersdorf AG
Beiersdorf AG is a cosmetics company headquartered in Hamburg, Germany, that employs approximately 22,000 people worldwide and that generated sales of 5.5 billion in 2007. Its flagship NIVEA brand is the world's largest skin and beauty care brand. Other names in its internationally successful brand portfolio include Eucerin, la prairie, Labello, 8x4, and Hansaplast/Elastoplast. Beiersdorf has more than 125 years' experience in skin and beauty care and stands for innovative and high-quality products. For more information, visit www.beiersdorf.com.
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms - often in combination - to a wide array of customer needs. With $24 billion in sales, 3M employs 79,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.
Contacts 3M Media Contact: Donna Fleming Runyon, 651-736-7646 or Investor Contacts: Matt Ginter, 651-733-8206 or Bruce Jermeland, 651-733-1807 or Beiersdorf Media Contact: Claudia Fasse, +49 40 4909 2001 or Investor Contact: Dr. Jens Gei▀ler, +49 40 4909 5000