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ST. PAUL, Minn. - 3M Co. will acquire the Futuro health supports and compression hosiery product line for an undisclosed amount from Beiersdorf Inc., the companies said Monday.
| MMM | 58.58 |  0.51 |
Wilton, Conn.-based-Beiersdorf is a subsidiary of the German Beiersdorf AG, the maker of Nivea skincare products and Tesa tape. Its Futuro line includes wraps and bandages used to relieve pain from minor injuries.
The company said it employs about 100 people in its Futuro unit in Wilton and Mariemont, Ohio. 3M did not say if there would be any staffing changes.
The companies did not release any financial details of the agreement.
3M, which makes a wide range of consumer products, saw shares rise with the broader market Monday, climbing $2.78, or 4.5 percent, tp $64.08 in late trading.
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