The international player has already achieved high double digit annual sales growth in the Chinese skin care market with its NIVEA and Eucerin brands. The investment in C-Bons Hair Care will allow Beiersdorf to complement its position in the Chinese skin care market with a stong presence in the country's hair care market. The company's Austrian affiliate, Beiersdorf CEE Holding GmbH, will pay €269.45m for an 85 per cent stake in C-Bons Hair Care. It also reserves the right to acquire the remaining 15 per cent share after a minimum period of one year for a minimum price of €47.55. As part of the transaction C-Bons Hair Care, which owns the Slek and Maestro brands, was valued at €317m. Beiersdorf CEO Thomas-B Quass: "We are very pleased to have taken another significant step forward in the China market. "C-Bons Hair Care is an ideal extension of our already successful Nivea business, adding established domestic consumer brands and strong market positions." The current president of C-Bons Hair Care, Wu Yong-nan, will become the CEO of the new business unit. Beiersdorf plans to pursue sales growth by combining its marketing, management and R&D expertise with the local knowledge of C-Bons Hair Care. The move is part of the Beiersdorf's strategy of strengthening its business activities in China, which the company identified as a priority growth market, and developing its presence in the hair care market.