Combines the strong R&D and innovation capabilities of a world leader with the significant network of a Pacific-based company with a heritage spanning more than 70 years
Unites Pierlite’s indoor portfolio with Signify’s comprehensive Philips brand of indoor and outdoor lighting portfolios
Adds Pierlite’s access to the wholesale channel to Signify’s go-to-market approach and strategy in the Pacific
Closing is expected in the second quarter, subject to customary closing conditions
Sydney, Australia – Signify (Euronext: LIGHT), the world leader in lighting, today announced that it has entered into a definitive agreement with Australian based Gerard Lighting Group to acquire their Pierlite business. The acquisition is in line with our strategy to expand within 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 union will strengthen our position in the Australian and New Zealand lighting markets and provide us with growth opportunities – including those that exist between Pierlite’s luminaire portfolios and Signify’s connected lighting solutions.
Customers in Australia and New Zealand are early adopters, and can be regarded as pacesetters when it comes to the latest lighting trends around the globe. This transaction will provide them with the best of global and local lighting technologies.
Combining Pierlite’s strong customer relationships and excellent indoor portfolio with Signify’s comprehensive ‘Philips’ brand of indoor and outdoor portfolios will create a substantial breadth of offer and market coverage in the Pacific region. We also see synergies stemming from alignment with Signify’s ‘Interact’ and ‘Dynalite’ control platform brands. Furthermore, Pierlite has wide access to the wholesale channel that is complementary to our own channel strategy in the Pacific.
“We’re excited to announce our intention to acquire Pierlite, bringing together two companies and brands that have a long history in Australia and New Zealand. Aligning Pierlite’s strong local network and well-recognized brand with Signify’s global brands and expertise will help us to strengthen our position in the Pacific’s lighting market,” said David Gardner, Cluster Leader Pacific at Signify. “Uniting the organisations ensures that we offer best in class global and local solutions for our chosen segments and helps us to answer the growing desire for Australian-made/Australian-owned products, systems and services.”
The acquisition is expected to close in the second quarter, subject to customary closing conditions.
February.21, 2022
ledinside.com
