kichler.jpg Kichler Lighting

Masco Corp. Buys Kichler Lighting

Masco Corp., Livonia, MI, is a manufacturer of a diverse array of home improvement brands, including Behr paint; Kilz, paint primer; Delta and Hansgrohe faucets, bath and shower fixtures; KraftMaid and Merillat cabinets; Milgard windows and doors; and Hot Spring spas.

Kichler Lighting, one of the best-known brands in the residential lighting market is being sold to Masco Corp., Livonia, MI, a manufacturer of a diverse array of home improvement brands, including Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; KraftMaid and Merillat cabinets; Milgard windows and doors; and Hot Spring spas.

Based in Cleveland, Ohio, Kichler Lighting had revenues of approximately $450 million in 2017 and employs approximately 700 people worldwide.  The transaction is expected to close in the first quarter of 2018, subject to customary closing conditions and regulatory review, and will be funded with cash on hand.  Masco intends to report the financial results of Kichler Lighting in its Decorative Architectural Products segment.

“We are excited about the prospects of expanding Masco’s reach into the fragmented $6 billion U.S. residential lighting industry,” said Masco’s President and CEO, Keith Allman in a press release.  “Kichler Lighting is a strong strategic fit with our focus on building products where brand, innovation and strength of distribution provide a competitive advantage.  Kichler’s products share many of the same customers as numerous other Masco brands and will complement our current product offering while strengthening our relationships with these customers,” continued Allman.

 Masco (MAS) is a publicly held company that had over $7 billion in 2016 revenues. The company operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world.

 

 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish