Signify combines the strong R&D and innovation capabilities of a global market leader with the significant network of a Pacific-based company with more than 70 years of heritage
Combines Pierlite's indoor lighting portfolio with Signify's comprehensive Phillip brand indoor and outdoor lighting portfolio
Pierlite's addition to the wholesale channel complements Signify's go-to-market approach and strategy in the Pacific region
Closing is expected in the second quarter, subject to customary closing conditions
Sydney, Australia - Signify (Euronext: LIGHT), the global leader in lighting, today announced that it has entered into a definitive agreement with Australia's Gerard Lighting Group to acquire its Pierlite business. The acquisition is in line with our strategy to expand in highly attractive market segments and will bring together the strong R&D and innovation capabilities of a global leader with the significant expertise and network of a local brand. The merger will strengthen our position in the Australian and New Zealand lighting markets and open up growth opportunities - including those that exist between Pierlite's luminaire portfolio and Signify's networked lighting solutions.
Customers in Australia and New Zealand are early adopters and can be considered pacesetters when it comes to the latest lighting trends around the globe. This transaction will offer them the best of global and local lighting technologies.
Combining Pierlite's strong customer relationships and excellent indoor lighting portfolio with Signify's comprehensive branded indoor and outdoor lighting portfolio will create significant breadth of offering and market coverage in the Pacific region. We also see synergies through alignment with Signify's 'Interact' and 'Dynalite' brands. In addition, Pierlite has broad access to the wholesale channel, which complements our own distribution strategy in the Pacific region.
"We are pleased to announce the acquisition of Pierlite, bringing together two companies and brands that have a long history in Australia and New Zealand. Bringing together Pierlite's strong local network and well-known brand with Signify's global brands and expertise will help us strengthen our position in the Pacific lighting market," said David Gardner, Cluster Leader Pacific at Signify. "The combination of the organisations ensures that we provide best-in-class global and local solutions for our chosen segments and helps us meet the growing demand for Australian-madeor Australian-owned products, systems and services."
The acquisition is expected to close in the second quarter, subject to customary closing conditions.
