Beiersdorf AG is set to acquire the remaining 50% equity in the EBC Eczacıbaşı-Beiersdorf Kozmetik Ürünler Sanayi ve Ticaret AŞ, from 1 January, 2013.
Eczacıbaşı Holding AŞ and Beiersdorf have each held a 50% stake in the company up until now. Eczacıbaşı and Beiersdorf plan to continue their partnership in defined areas of business in Turkey.
Stefan F Heidenreich, ceo of Beiersdorf AG, said: “Turkey already is an important market for Beiersdorf and will gain even more importance in the future. We express our gratitude to our long-standing partner for the successful cooperation over the past 20 years. It is through this shared commitment that we have been able to grow our brands – above all Nivea – and achieve leading market positions.”
The acquisition is subject to approval by the relevant Federal Trade Commission.