Nualight in €11 million deal
SUZANNE LYNCH
LED light manufacturer Nualight has announced the acquisition of Lumoluce, a lighting technology company based in the Netherlands, in a deal worth €11 million.
The acquisition will push Nualight's revenues above €25 million this year.
Nualight, which specialises in lighting for food retail displays, will employ 200 people following the acquisition.
Gerard Kroone, chief executive of Lumocle, will remain with the company and join the Nualight board.
Dr Liam Kelly, chief executive of Nualight, said the acquisition will widen the company's lighting portfolio and compelemnt its expertise in accent lighting technology, allowing it to double the speed at which it can bring new products to market.
Nualight’s customers include Tesco, Migros, Sainsburys, the Co-operative Group, Tengelmann, Stop and Shop and Carrefour.
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