20 December 2013 – Iselin, NJ – Ansell, a global leader in protection solutions, today announced that it has divested its Marigold household gloves and cleaning products portion of the Comasec portfolio to Freudenberg Home and Cleaning Solutions (FHCS) in Germany. This agreement enables FHCS to acquire the global trademark rights for Marigold brand, as well as the consumer household gloves business in the UK, Ireland, Italy, Benelux, Hong Kong and Japan for US$ 14.5 million. This agreement is dependent upon approval by the relevant anti-trust authorities, expected in January 2014.
This divestment by Ansell represents a further successful step in implementing the integration plan envisaged at the time of the acquisition of Comasec, announced in 2012. The business divested was a small percentage of the Comasec portfolio and was seen as offering limited long term strategic value while the business retained by Ansell is of higher quality and offers greater scope for profitable growth. In addition, this agreement resolves for the mutual benefit of both companies any exclusivity agreement issues with Freudenberg Household Products (FHP) associated with Ansell’s acquisition of Comasec in 2012.
“We are delighted to enter into this agreement with FHCS and look forward to many years of ongoing partnership,” said Magnus Nicolin, Managing Director and CEO of Ansell. “As our primary focus is on providing a broad range of hand protection solutions for the business-to-business market, divesting the Marigold consumer brand to FHCS is consistent with our long-term strategy.”
The agreement includes a five-year extension of the partnership agreement between Ansell and FHCS. The Ansell facility in Keddah, Malaysia will be supplying products in support of FHP’s existing and new cleaning product portfolio. This deal is consistent with Ansell’s strategy to enhance its portfolio of products and market positions through ongoing and insightful new product development and value-enhancing acquisitions/divestitures.
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