Published on: February 22, 2010

Luceplan and Philips recently announced that Philips acquired the italian company which will therefore become part of the ‘Design Luminaires’ portfolio of the Dutch multinational corporation.

From the press release by Luceplan:

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The Luceplan Group, leading company in the design lighting segment, and Royal Philips (AEX: PHI, NYSE:PHG) announced yesterday the achievement of an agreement upon which Luceplan will become part of the ‘Design Luminaires’ portfolio of the Dutch multinational. Upon closing of this transaction in the second quarter of 2010, which is subject to certain conditions, Luceplan will become part of the Consumer Luminaires business in the Philips Lighting sector. ‘With the acquisition of Luceplan we are acquiring an iconic design brand in the premium design segment which enjoys higher growth rates and margins than the overall consumer lighting market,’ said Allard Bijlsma, Chief Executive Officer of Philips Lighting Consumer Luminaires. ‘Design will be an important differentiating factor in the consumer luminaires segment, driven by the increased use of LEDs in luminaires, as designers are no longer restricted by the form factor of the legacy incandescent light bulb.’ The agreement provides that Riccardo Sarfatti, one of the three founders, will maintain the 20% of the shares for a fixed period and Alessandro Sarfatti will continue to be the CEO of the company. ‘Luceplan’s relationship with Philips will guarantee the strongest continuity with our founding principles’ said Riccardo Sarfatti, adding that ‘bringing together our culture of design with the most advanced knowledge on new light sources – LED above all – is a thrilling project which will give us the chance to strengthen the Luceplan brand worldwide.’

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