September 8, 2016 – Over the course of the summer, you may have heard that a Chinese outfit called MLS Co. Ltd.—the parent company of Atlanta, Ga.-based Forest Lighting USA—is part of a consortium that plans to acquire Osram’s LEDvance lighting business. What does this mean for Canada?
“You can rest assured that, for Canadian distributors, it will be business as usual, and the Canadian electrical industry can continue to count on quality Sylvania traditional and LED lighting products,” said Glen Gracia, a spokesperson for LEDvance (formerly Osram Sylvania).
By acquiring LEDvance, MLS and its partners—IDG Capital Partners and Yiwu—will create a larger sales network for each business, and sourcing synergies will lay the foundation for future growth, added Forest.
The purchase price announced by the parties is $440 million US, according to Forest, and that MLS intends to maintain a duel brand strategy for its product lines.
“We are growing our portfolio to include new offerings to benefit Canadian distributors, including smart lighting and standardized over-the-counter luminaires that meet the needs of common applications,” added Gracia. “We are focused on helping distributors drive current and future sales.”