BERLIN — Mäurer & Wirtz has acquired the Baldessarini fragrance license from Procter & Gamble.
Terms of the deal were not disclosed.
Through the transaction, Stolberg, Germany-based Mäurer & Wirtz, home to the 4711 and Tabac brands, adds to its portfolio all of the existing Baldessarini fragrance and body care products, including the Strictly Private, Ambré, Private Affairs and Baldessarini scents.
The Baldessarini fragrance license acquisition is intended to help bolster Mäurer & Wirtz’s growing prestige division, which includes the Michalsky and Strellson scents, as well as to further its international reach, according to the company. Baldessarini’s business is especially strong in the Eastern European luxury market.
The first Baldessarini fashion collection was launched in 1994 as Hugo Boss’ top-of-the-line label that was named after its chief designer and later chief executive officer Werner Baldessarini. P&G Prestige introduced the debut Baldessarini scent in 2002. Then, four years later, the Hugo Boss fashion house sold its stake in Baldessarini to its namesake.
In 2010, Mäurer & Wirtz reported sales of around 156 million euros, or $207.2 million at average exchange for the period.