Freudenberg's German Japan Vilene Company will buy Hanns Glass to boost its floor mats business.
Japan Vilene is an established supplier of car floor mats operating worldwide but strong in Europe and its product line complements that of VIAM, a Japan Vilene unit operating in Asia and North America.
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Hans Glass last year booked EUR31m in sales and has 260 employees. The transaction needs approval from the German federal cartel office and is expected to be completed in the second quarter of this year.
"With the acquisition of the Hanns Glass Group, the VIAM Group will gain access to the European automotive market and, in the future, will be able to supply European carmakers from local production sites," said Freudenberg group CEO Mohsen Sohi.
Hanns Glass is based in Grafing, near Munich, and has factories in Paderborn and Meuselwitz plus Chebin the Czech Republic. These sites will become VIAM group's European base.
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The family owned business dates from the 1930s and supplies carmakers vehicle mats and dirt-free floor mats.
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