Food retail lighting company Nualight has announced the acquisition of Lumoluce, an LED lighting technology company based in the Netherlands, The deal, worth an estimated €11 million, brings Nualight revenues above €25 million for 2011 with more than 200 employees.
Nualight’s customers include Tesco, Migros, Sainsburys, The Co-operative Group, Tengelmann, Stop and Shop and Carrefour.
The acquisition allows Nualight to target a significantly larger combined market which is predicted to reach an estimated annual size of €1 billion by 2016.
Accent lighting – typically spotlights that are used to accentuate fresh food displays such as fruit, vegetables, meat, fish and salads – is expected to be the next opportunity for LED technology in food retail. Nualight’s LED accent lighting solutions are proven to save up to 40% on energy when compared with incumbent equivalent HID lighting at comparable cost.
Dr Liam Kelly, CEO of Nualight (pictured), said: "Food retailers today are very focused on deploying new technologies to make their business models as sustainable as possible… Through this acquisition, Nualight has acquired a portfolio of products and excellent technology expertise that allows us to move very quickly into accent lighting for food retail and doubles the speed at which we can bring new products to market."
Gerard Kroone, current CEO of Lumoluce, who will remain in the company and joins the Nualight Board, said: "Lumoluce has established a strong track record in lighting technology since its inception over 30 years ago. In recent years we have developed a particular expertise in LED technology which is underpinned by innovation and application-specific lighting solutions, just like Nualight. This deal will create a combined company with an enhanced expertise, responsiveness and reach that will create new and exciting market opportunities."
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