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Freudenberg Haushaltsprodukte acquires stake in Marino

29 Nov '07

3 min read

Effective November 1, Freudenberg Haushaltsprodukte KG has taken over 80 percent of the shares of S. Marino Manufacturing Ltd., which is headquartered in Toronto. In its home market, the Canadian company is number one cleaning systems for professional applications.

With its Marino and Gladiator brands, Marino Manufacturing Ltd., which employs a staff of 63, has realized sales of CAD 25 million (EUR 18 million) in course of the current fiscal year. The company was founded in 1967 by owners Sam and Leda Marino and, like Freudenberg, is a family company.

The family, which will retain a 20-percent share, will remain active in the company with four persons in key positions. Peter Erikson, currently General Manager of the Professional division of Freudenberg Haushaltsprodukte KG in the Nordic countries will be appointed General Manager of Marino Manufacturing and will lead the integration of the company.

The two companies have cooperated closely with one another in the Canadian and the USA market since 2003. Marino Manufacturing Ltd. is the sole distributor in Canada and USA for professional cleaning equipment of the Freudenberg brands VILEDA Professional, SWEP and WETTEX. "We have known one another for a long time and can build upon an outstanding bond of trust", explains Erikson. Sam Marino, previously the company's President and founder, will remain active as an adviser to the company.

Dr. Klaus-Peter Meier, Managing Director at Freudenberg Haushaltsprodukte, is convinced that his company is on the right path to the NAFTA market with Marino Manufacturing. "Marino Manufacturing is a perfect match for our strategy to expand in the NAFTA market. Not only does the product portfolio suit us, but so does the corporate culture of a family-run company", Meier explains.

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