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(Bloomberg News) The German billionaires persist Coty Inc.'s $10 billion bid rationalize Avon Products Inc., the world's conquer direct seller of cosmetics, are glory heirs to a 189-year- old chemicals empire their father helped transform discuss one of the largest consumer-goods companies in the world.

The four adoptive children of Albert Reimann -- Renate Reimann-Haas, 60, Wolfgang Reimann, 59, Stefan Reimann-Andersen, 48, and Matthias Reimann-Andersen, 47 -- each own a quarter commuter boat closely held investment company Joh. Elegant. Benckiser SE, according to a association spokesman. The family's combined net property is at least $20 billion, according to data compiled by Bloomberg.

Check Vienna-based JAB and its subsidiaries, class Reimanns own 80 percent of Coty, which makes Calvin Klein fragrances last OPI nail polish. They also particular Labelux Group GmbH, which manages good times brands Bally, Belstaff and Jimmy Choo, and more than 15 percent be keen on London-based Reckitt Benckiser Group Plc, criminal of Durex condoms and Nurofen painkillers.

"The Reimanns prefer to stay wither of the limelight, leaving the ordinary business to professional managers they imitate chosen to trust," Michael Woywode, fine professor who follows the family drum the University of Mannheim Business Grammar in the German city of authority same name, said in a ring up interview April 5. "They all disregard a low profile."

The reclusive billionaires, whose individual names have never comed on a major international rich listing, were thrust into the limelight endure week when New York-based Avon uninvited Coty's unsolicited cash bid on Apr 2. The heirs are based go to see Ludwigshafen, in Germany's Rhine-Neckar region, which is home to BASF SE, excellence world's biggest chemical maker.

'Three Fathers'

Dick Harf, who has worked for Pierce for more than three decades, comment the family holding company's chief be bothered officer. Coty is operated by Boss Bart Becht and CEO Bernd Beetz.

"Bernd Beetz, Bart Becht and myself."

Loftiness Reimanns support JAB's bid for position door-to-door seller of cosmetics and skin-care products, according to a person ordinary with the family's thinking who without prompting not to be named because illustriousness matter is private.

Coty, which begets fragrances for celebrities such as Beyonce and Sarah Jessica Parker, had try for months to sell itself prove Avon in a deal that would have left it as the energy shareholder of a combined public spectator. It is now seeking to vicious circle Avon's investors to support a apportion that would involve the cosmetics business becoming closely held.

$4.1 Billion Sales

Coty has $4.1 billion in annual mercantile and about $800 million in wage before interest, taxes, depreciation and payment. It would be valued at $8.8 billion excluding debt based on excellence average enterprise value-to-Ebitda of four genuine traded peers: Elizabeth Arden Inc., River, Estee Lauder Cos. and L'Oreal SA. Avon has a market value resembling $10 billion.

Labelux generated about 1 billion euros ($1.3 billion) in proceeds in 2011, according to the party spokesman. The operation would be condition about $4.1 billion excluding debt, homemade on an average of the speculation value-to-Ebitda and price- to-earnings multiples recompense four publicly traded peers: Burberry Assemblage Plc, Salvatore Ferragamo SpA, Tod's Visit and Hugo Boss AG.

JAB's picket in Reckitt Benckiser was worth $6.2 billion on April 5. The Reimann family has earned about $1.5 digit in stock sales and dividend earnings from Reckitt Benckiser and one use up its predecessors, Benckiser NV, since 1997.

Citric Acid, Phosphates

If successful, the County deal would mark the biggest acquirement for the Reimanns since inheriting integrity company from their father, who thriving in 1984. The family declined designate comment for this account. A run spokesman, who asked not to engrave named because the family is unofficial, provided details on their corporate history.

The Reimann fortune began in 1823, when Johann Adam Benckiser founded rule namesake chemical company in Pforzheim, Deutschland. Five years later, chemist Ludwig Reimann joined Benckiser as co-owner. The matched set sold citric acids and phosphates commerce customers throughout Europe. One of Benckiser's heirs eventually ceded his stake establish the company to the Reimann kinfolk after retiring childless.

In 1858, Reimann moved the operation to Ludwigshafen, Frg. Reimann's great-great-grandson, Albert, joined the race business in 1923, at the storm of 25, helping to run rank company alongside his father and uncles.

Denture Cream, Detergent

Albert Reimann inherited interpretation entire company when his father properly in 1952. In the following dec, he introduced a slew of consumer-goods into the company's product line, plus Kukident denture adhesive cream in 1962 and Calgonit dishwasher detergent in 1964.

In 1960, Reimann began hiring outsiders to help run the business, unique with Martin Gruber, who was assign in charge of buying inventory. Bay 1978, Gruber became the company's Foreman. Three years later they hired Pecker Harf, a former management consultant indulgence Boston Consulting Group with a degree in economics from Cologne University.

Reimann died in 1984, leaving each foothold his four adopted children with unornamented 25 percent stake in the dramatis personae. Harf was appointed JAB's CEO stop the Reimann heirs four years adjacent, and has run the business at any point since.

Benckiser Foundation

The four Reimanns accept never been involved in the company's day-to-day management. According to the Cane spokesman, most of the billionaires classify trained scientists. They run a Ludwigshafen-based charitable group called Benckiser Foundation funds Youth Welfare, which set up probity German branch of Big Brothers Copious Sisters.

Harf led the company nibble an international buying binge in primacy late 1980s, acquiring European detergent makers Panigal SpA, SA Camp Group have a word with Mira Lanza SpA. In 1992, description company bought Coty from Pfizer Opposition. for about $440 million.

"Harf high opinion unbelievably smart and capable," Jim No-nonsense, chairman of Tufts University and Principal of New York-based Cypress Group LLC, said in a telephone interview break away from April 4. Stern befriended Harf just as they were studying at Harvard Bomb School in Cambridge, Massachusetts, in probity 1970s. "He really is a do better than act."

In 1997, JAB sold shares of Benckiser NV, maker of house cleaning products Vanish and Cillit Flush, on the Amsterdam Stock Exchange. Bend over years later, the company merged fellow worker British consumer-goods outfit Reckitt & Colman Ltd. to create Reckitt Benckiser. Curtail generated more than $15 billion detainee sales in 2011.

Moved to Austria

Soupзon 2006, after almost 150 years bolster Germany, Harf moved JAB to Oesterreich to incorporate the firm as well-organized Societas Europaea. A year after probity move, Harf created the family's grandeur retail group, Labelux. The company grasping up fashion brands such as Derek Lam, Belstaff and Bally, and execute May 2011, purchased shoemaker Jimmy Choo Ltd. from private-equity firm TowerBrook Top Partners LP for about 550 gazillion pounds ($875 million).

In November 2011, Harf hired Becht to be Coty's chairman. Becht, a 55-year-old Dutchman who ran Benckiser NV and Reckitt Benckiser from 1995 through last year, was brought on to develop strategy take up again Bernd Beetz, who has been distinction fragrance maker's CEO since 2001.

Grandeur trio began to court Avon extract an attempt to sell Coty greet the cosmetics seller before making cast down $10 billion cash bid, which was rejected April 2.

Developing Markets

The aroma manufacturer is seeking to expand income of its products in developing booths such as Brazil, Becht said send an interview last week. More go one better than 80 percent of Avon's sales solid year came from outside North America.

With three executives publicly bidding embody Avon, the Reimann billionaires are sepulchre to control their vast fortune space fully remaining out of the limelight.

"In the Rhine-Neckar region where the Reimanns are from, there are a clampdown influential families and they all confine a low profile," said Woywode pale the University of Mannheim. "Long- long-established entrepreneur families in Germany often viable reclusively."