MELBOURNE, Australia (July 2, 2008) — Latex glove and condom maker Ansell Ltd. said it has bought Hawkeye Glove Manufacturing Inc. for $10.8 million.
Hawkeye, based in Fort Dodge, Iowa, has five factories in the U.S. making mostly leather gloves and has annual sales of about $20 million, Ansell said.
The company has about a 10-percent share of the U.S. military glove market, an area that Ansell had been examining for some time, the company said.
Ansell Chief Executive Doug Tough said Hawkeye provides Ansell with knowledge, expertise and technology that will increase Ansell's business.
The purchase agreement includes an earn-out clause that provides for an uplift in price if certain sales hurdles are met over the next two years.