Mäurer & Wirtz has acquired the fragrance business of Baldessarini, further expanding its Prestige portfolio.
The premium fragrance brand was launched in 2002 by Procter & Gamble as licensee of the Hugo Boss fashion brand. It was the very first perfume and cosmetics line for the Baldessarini brand, formerly owned by Boss.
In January 2012 the licence for all Baldessarini fragrances and body care products will be transferred to Mäurer & Wirtz from Procter & Gamble.
Under the terms of the agreement for the transitional period, Procter & Gamble will continue to manage the brand until 31 March 2012, supported by Mäurer & Wirtz. After 1 April 2012, Mäurer & Wirtz will take full control of the brand’s operative business.
At the beginning of 2011, Mäurer & Wirtz implemented a strategic restructure and has since operated through three corporate units: Beauty, Prestige and 4711.
The Baldessarini acquisition is in line with the company’s goals of expanding its license business in the Prestige segment and a stronger focus on internationalisation in all three units to drive growth.
In a statement to partners, Mäurer & Wirtz CEO Fabian Krone said: “The acquisition of Baldessarini brands sees us further expanding our Prestige fragrance business internationally. We look forward to offering you an even broader portfolio of appealing, high quality products – a portfolio that will also make a decisive contribution to your success.”
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