Germany's Osram buys UK's Ring Automotive to reach end consumers
FILE PHOTO: Logo of lamp manufacturer Osram is pictured during official opening of the company 'World of light' showroom in Munich, Germany, October 24, 2017. REUTERS/Michaela Rehle
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FRANKFURT (Reuters) – German lighting group Osram has bought Britain’s Ring Automotive to gain access to the consumer market for auto accessories.
Osram purchased Ring from Rubicon Partners. It has 160 employees and sales of 40 million pounds in 2017.
Osram, which mainly sells its products to manufacturers rather than end consumers, declined to disclose the sale price.
(Reporting by Tom Sims)