Allens advises Freudenberg on $80m acquisition of cleaning giant
11 January 2018
Allens has advised Freudenberg Household Products Pty Ltd on its acquisition of E.D. Oates Pty Ltd from GUD Holdings Limited for $80 million.
The acquisition of Oates, Australia's market leader in professional cleaning, will drive Freudenberg's growth strategy for its household products business in Australia.
Allens advised on all aspects of the transaction, drawing on its Corporate and Competition, Consumer and Regulatory teams as well as experts from Property, Banking & Finance, Employment & Safety, Tax and Intellectual Property.
The acquisition is the second on which Allens has advised German-headquartered global technology company Freudenberg, having advised on its acquisition of Ludowici Sealing Solutions in 2015.
'We congratulate Freudenberg on the acquisition of this well-known Australian brand,' said Mark Malinas, lead Partner on the deal.
'The acquisition is part of a broader increase in German investment in Australian businesses, a trend we believe is set to continue as Australia's free trade agreement with the EU progresses.'
The transaction completed on 2 January following merger clearance from the ACCC in December.
|Allens legal team||Corporate: Mark Malinas (Lead Partner), Hannah Biggins (Senior Associate), Thomas Wallrich (Associate), Evan Lacey (Associate) and George Klonis (Associate). Competition: Rob Walker (Partner), Kon Stellios (Partner), Fiona Sam (Associate) and Nikita Harrison (Associate).|
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Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.