ISELIN, N.J.—Ansell Ltd. plans to sell its Marigold household glove and cleaning products portion of its Comasec portfolio to Freudenberg Home and Cleaning Solutions for about $14.5 million.
Under an agreement reached by the two companies, Weinheim, Germany-based FHCS will acquire the global trademark rights for the Marigold brand along with Ansell's consumer household glove business in the United Kingdom, Ireland, Italy, Benelux, Hong Kong and Japan.
The deal is subject to the approval of antitrust authorities. It's expected to close in January.
"The acquisition of the Marigold brand complements perfectly our already successful household gloves business," according to FHCS CEO Klaus-Peter Meier. "Marigold is a market leader in the U.K. and Ireland, countries in which we are not yet represented in this category."
Ansell's primary focus is providing "a broad range of hand protection solutions for the business-to-business market," and the Marigold consumer brand operation didn't fit into that sector, said Magnus Nicolin, managing director and CEO of glove maker, which has its U.S. headquarters in Iselin.