Freudenberg Household Products Pty Ltd signs final agreement to acquire E.D. Oates Pty Ltd in Australia
Freudenberg, the global technology company, is further expanding its household products business area. In Australia, Freudenberg Household Products Pty Ltd has signed a final agreement to acquire E.D. Oates Pty Ltd from GUD Holdings Limited. Oates is the market leader in the professional cleaning business in Australia and has a broad and comprehensive range of household and cleaning products in the consumer business. The company generated sales of about 70 million AUD (equivalent to 46 million EUR) with some 100 employees in Australia. The transaction is conditional upon approval by the anti-trust authorities and is expected to be completed in the first quarter of next year.
Freudenberg Group CEO, Dr. Mohsen Sohi, says “This transaction will drive the growth strategy of Freudenberg`s Household Product business in one of its key countries. Following the acquisition of Gimi to strengthen our European market, and the acquisition of Playtex® household gloves in the USA, we are now expanding our business in the Asia Pacific region.”
Oates is a well-known and established brand in Australia dating back to the early 1900s. Freudenberg Household Products Pty Ltd is a strong player in Australia with its Vileda brand and as distributor of Ansell consumer gloves.
Both companies will combine their outstanding expertise to create excellent value for customers and consumers:
- In the professional business, the Australian market leader Oates has a competitive customer service within a comprehensive product range. At the same time, the product portfolio of Oates will benefit from Freudenberg Household Products’ competence in materials and technology.
- In the consumer business, the two product portfolios and well-known brands of Freudenberg Household Products and Oates complement each other perfectly to offer a broad and highly innovative range of home and cleaning products across all retail channels in Australia.
“This new combination of strengths will focus on high quality standards, accelerate the drive for innovation and create greater value and superior solutions for our consumers and customers,” explains Denis Myhalchyshyn, Managing Director of Freudenberg Household Products Australia.