Glamox becomes a leading lighting company in Switzerland by acquiring O. Küttel AG
Oslo (Norway) / Kriens (Switzerland), March 16 2018 - Glamox has entered into an agreement to acquire all equity interest of O. Küttel AG (“Küttel”), a leading Swiss provider of lighting for the professional building market from Regent Beleuchtungskörper AG.
Rune E. Marthinussen, CEO of Glamox, commented: “We are excited about this strategic opportunity that will allow us to enter the Swiss lighting market. Küttel is a widely-recognized and well-respected brand in the Swiss industry”.
“The entire Küttel team is pleased to join the Glamox family. Under the ownership of Glamox, Küttel will be able to strengthen the offering of products and solutions to our customers”, added Walter Glanzmann, CEO of Küttel.
The transaction is expected to be completed in Q2 2018. Glamox and Küttel will continue to operate as two separate companies until the transaction closes. The parties have agreed not to disclose the terms of the transaction.