, 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 a 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 ($53.4 million) 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.