Oct 14 2010
Acuity Brands, Inc. (NYSE: AYI; "Company") a market leader in innovative energy-efficient lighting and control solutions, today announced it has acquired for cash Minnesota-based Winona Lighting, Inc., a premier provider of architectural and high-performance indoor and outdoor lighting products.
Recognized throughout the architectural design community, Winona Lighting serves the commercial, retail, and institutional markets with a product portfolio of high-quality and design-oriented luminaires suitable for decorative, custom, asymmetric, and landscape lighting applications. Winona Lighting provides many of these products utilizing the latest LED technology for superior performance, long-life and energy-savings. Winona Lighting will continue operations in its existing facility focusing on key customers and competencies.
The acquisition is not expected to materially impact the Company's fiscal 2011 consolidated financial performance. Terms of the acquisition were not disclosed.
"Providing superior, technologically-advanced lighting solutions through a broader specification portfolio is important to our growth strategy," said Vernon J. Nagel, Chairman, President and Chief Executive Officer of Acuity Brands. "The acquisition of Winona Lighting strengthens our presence with the design community, while providing opportunities to further leverage our capabilities and broad market access across their entire product portfolio. This includes the integration of design with advanced new technologies such as performance optics, solid-state lighting and lighting controls."
Founded in 1960, Winona Lighting grew from a stained glass heritage to one of the industry leaders in architectural and performance lighting products. Winona Lighting offers customers one of the widest ranges of styles and designs to complement any application--indoor or outdoor. The company has carved a niche in the marketplace for modified standard products allowing customers to mix and match standard components that meet their lighting and design needs.
"Ted Biesanz and I, along with the rest of the Winona Lighting team, are pleased to join the Acuity Brands family. We see this as an exciting opportunity to leverage Acuity Brands' strong capabilities, especially in advanced technologies, to support the continuing development of new and innovative lighting solutions for the architectural design community," said Steve Biesanz, President and Chief Executive Officer of Winona Lighting.