Osram Finalizes Acquisition of Ring Automotive

Osram has finalized its acquisition of British aftermarket specialist Ring after the deal has received the approval of the regulatory authority, the British Competitors and Market Authority (CMA). As an outcome of the acquisition, Osram will be able to expand its portfolio to include more automotive electronics and accessories.

Commenting on the deal, Hans-Joachim Schwabe, CEO of Osram Automotive said that in addition to expanding its aftermarket portfolio, Osram’s acquisition of Ring will make it possible for Osram to explore additional sales potential and further expand its market expertise. Through this additional market and customer access, the company hopes to create synergies in the product portfolio and distribution channels.

After acquiring Ring Automotive, Osram can strengthen its aftermarket business and give its customers access to a broader, complementary product range. Both companies have seen the deal as an opportunity for a successful European cooperation as their common goal is to respond in a faster and better manner to the new trends and challenges in light of the constant evolution in the automotive lighting industry and thus to achieve further growth. While Ring brings to the deal its experience and technical knowledge in automotive lighting, accessories and electronics, Osram will give the Ring portfolio access to the US market through Osram Sylvania’s established channels and thus open up new sales potential in Europe and the rest of the world with a differentiated brand strategy. Ring has a  product range that extends far beyond classic automotive lighting, and the company is highly successful in the field of electronic car accessories. It has about 3000 products which are available from over 3000 specialist dealers across over 60 countries.

Ring has a workforce of 160 employees and in 2018 had an annual turnover of GBP 46.1 million. Osram will invest further in Ring, and this will support Ring’s plans for further growth and product innovation in the future, especially in the aftermarket segment.

Synergies are also being created in sales as through Ring, Osram gets a presence in UK and Europe that it could service its customers more quickly and with greater flexibility. Osram, on the other hand gives access to the Ring Osram in return offers a global marketing system for the Ring product range. With the takeover, Osram will also gain retail expertise for sales and distribution in Europe. Together with Ring Automotive, Osram will be able to expand its retail market beyond its current portfolio of classic automotive lighting to achieve growth.

George Skalski, Managing Director of Ring Automotive, commented on the start of the cooperation as a milestone in Ring’s 45-year history: “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.”

Both companies have agreed not to disclose the financial details of the deal.