Osram acquires Ring Automotive
Tuesday, February 12, 2019
Osram has announced that it has acquired aftermarket lighting, electronics and accessories supplier Ring Automotive. The move is designed to expand the Osram product range in the automotive sector.
Speaking about the move Hans-Joachim Schwabe, CEO Osram Automotive said, “With the acquisition of Ring Automotive, we are further expanding our aftermarket portfolio and can at the same time, use stable distribution channels in the United Kingdom.”
Ring Automotive achieved annual sales of around £40 million in 2017 and has 160 employees. By acquiring Ring Automotive, Osram says it is investing in the future. Ring has an established, valuable brand and a well-placed sales model in the automotive aftermarket sector. In addition, Ring's product portfolio goes far beyond classic automotive lighting and complements Osram’s product range, especially in the field of electronic car accessories.
In addition, Osram will give the ring portfolio access to the US market via the established Osram Sylvania channels and opens up new sales potential in Europe and the rest of the world with a differentiated brand strategy. George Skalski, Managing Director of Ring Automotive said, “We look forward to working alongside Osram and believe that the transaction is very positive news for all of our colleagues and customers.”