MLS, parent company of Atlanta-based Forest Lighting USA, has announced it is part of a consortium that plans to acquire Osram’s Ledvance lighting business. Osram said in 2015 it intended to sell its Ledvance division, and the deal should close in late 2016 or 2017 following due diligence and regulatory approval. The purchase price announced by the parties is $440 million.
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. “We are looking forward to working together. The qualifications and wealth of experience of the management team and employees of Ledvance represent two key factors for Ledvance’s success in the cooperation with MLS in the future,” said Mr. Sun Qinghuan, MLS Chairman.
MLS intends to maintain a dual brand strategy for its product lines. Jian Ni, Chief Operating Officer, Forest Lighting USA, added, “We look forward to an association with Osram Sylvania, one of America’s premier lighting products brands. Future cooperation will result in accelerated growth of our business.”