© Osram Business | May 06, 2019
Osram completes the acquisition of Ring Automotive
Following the approval by the British Competitors and Market Authority (CMA) for the takeover of Ring Automotive by Osram, the partnership between the companies oficially stated on the first of May, 2019.
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. "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," says Hans-Joachim Schwabe, CEO of Osram Automotive, in a press release. The acquisition of Ring Automotive strengthens Osrams aftermarket business and offering customers access to a broader, complementary product range. Both companies see the agreement as an opportunity for a successful European cooperation. The common goal is to respond faster and better to new trends and challenges in the constantly evolving automotive lighting industry and to achieve further growth Ring's product portfolio extends beyond classic automotive lighting, and the company is particularly successful in the field of electronic car accessories. The approximately 3000 products are available from over 3000 specialist dealers in more than 60 countries. With 160 employees, the British company achieved an annual turnover of GBp 46.1 million in 2018. The affiliation with Osram also secures further investment for Ring, which support future growth plans and product innovation in order to continue to grow, especially in the aftermarket segment. "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,” says George Skalski, Managing Director of Ring Automotive.
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