Freudenberg to Acquire Low & Bonar
Weinheim, DE, November 21, 2019-The boards of directors of FV Beteiligungs (FVB) and Low & Bonar have reached agreement under which Low & Bonar will be acquired by FVB, a company wholly and directly owned by Freudenberg. The acquisition is expected to close in the first half of 2020.
Freudenberg and Low & Bonar are the two leading producers of nonwoven primary backing, which is used to manufacture modular carpet tile. The companies will operate as one but continue to offer both product lines.
Low & Bonar is a producer of high performance materials, selling in more than 60 countries. Low & Bonar’s carpet backing is branded Colbond.
The Freudenberg Group is a German family-owned diversified group of companies with products such as housewares and cleaning products, automobile parts, textiles, building materials, and telecommunications. In North America, the textiles arm operates as Freudenberg Performance Materials.