Weinheim, September 1, 2016. The global technology group Freudenberg today acquired Gimi S.p.A. of Monselice, Italy. The relevant authorities have approved the transaction. The Freudenberg Group, which includes the Vileda brand, signed an agreement to acquire Gimi S.p.A at the end of July. “Through this acquisition, we are continuing the growth strategy of Freudenberg Home and Cleaning Solutions,” Dr. Mohsen Sohi, CEO of the Freudenberg Group, said.
Gimi is the market leader in Italy for laundry care products, especially ironing boards and laundry dryers. The company was established in 1970 and has operated internationally for decades – it is currently active in more than 80 countries. In 2015, the company’s revenue was about €80 million. Gimi currently has about 320 employees. The two companies supplement each other in the ideal way in terms of geographical presence and segment coverage. Following the acquisition, Freudenberg Home and Cleaning Solutions will achieve an excellent market position in the segment of laundry care.
“Thanks to its innovative power and technological competence, this company is an ideal partner,” Dr. Klaus Peter Meier, CEO of Freudenberg Home and Cleaning Solutions, commented. “Through this acquisition we will be creating significant added value for our customers and will be able to offer an even better, more innovative range to consumers. This transaction is a milestone in our expansion strategy.”About Freudenberg Home and Cleaning Solutions
Freudenberg Home and Cleaning Solutions is the worldwide leading supplier of branded, innovative Home and Cleaning Products, with a market leading position in almost all of the countries it operates. It strives to deliver the best superior solutions for the advantage of millions of consumers and customers around the world. In 2015, its 3.000 employees helped to generate more than 800 Mio Euros of sales, through its strong portfolio of brands, including Vileda®, O’Cedar ®, swash®, Wettex®, Gala® and Marigold®. The company’s excellent market position in each of its core product categories has been built over time through strong customer focus, deep consumer understanding, and innovative and high quality products.About the Freudenberg Group
Freudenberg is a global technology group that strengthens its customers and society long-term through forward-looking innovations. Together with its partners, customers and the world of science, the Freudenberg Group develops leading-edge technologies, and excellent products, solutions and services for more than 30 market segments and for thousands of applications: seals, vibration control components, nonwovens, filters, specialty chemicals, medical products, IT services and the most modern cleaning products.
Innovation strength, strong customer orientation, diversity and team spirit are the cornerstones of our Group. Commitment to excellence, reliability and pro-active, responsible action belong to the company's core values lived for more than 165 years.
In 2015, the Freudenberg Group employed over 40,000 people in some 60 countries worldwide and generated sales of more than 7.5 billion Euros (including pro-rata consolidation of 50:50 joint ventures).