Osram completes acquisition of Ring Automotive
Tuesday, May 07, 2019
After approval by the British Competitors and Market Authority the takeover of Ring Automotive by Osram is now complete and the partnership between the companies has commenced. The acquisition of the British aftermarket specialist Ring will allow Osram to expand its product range in the automotive sector to include more automotive electronics and accessories.
Hans-Joachim Schwabe, CEO of Osram Automotive said, "In addition to expanding our aftermarket portfolio, the acquisition of Ring will enable us to tap into additional sales potential and further expand our market expertise. The aim is to use the additional market and customer access and create synergies in the product portfolio and distribution channels."
Ring's experience and technical knowledge in automotive lighting, accessories and electronics makes the company a successful aftermarket brand throughout Europe. Osram will in turn give the Ring portfolio access to the US market via Osram Sylvania's established channels and open up new sales potential in Europe and the rest of the world with a differentiated brand strategy.
George Skalski, Managing Director of Ring Automotive, sees the start of the cooperation as a milestone in Ring's 45-year history, commenting, "Being part of the Osram family offers us incredible opportunities for further global expansion. The synergies are enormous and will help us to continue our innovation leadership together. In the future, our customers will benefit from the many years of experience of both companies.”