Acuity Sells Spanish Company Carandini - Energy Watch News

Acuity Sells Spanish Company Carandini

Acuity Brands has quietly unloaded its $23 million Spanish lighting company Carandini, as it tries to stay steady in what CEO Vernon Nagel described this week as a “challenging lighting market.” The sale came to light when the buyer, Spain’s $85.2 million LEDS C4, issued a press release last week, saying that “LEDS C4….announces its acquisition of Carandini.” In a peculiar omission, the release did not mention Acuity as the seller. Acuity also distanced itself publicly from the details. It did not issue a press release about the move. Rather, Acuity first mentioned the sale in passing within its fourth quarter financial statement yesterday, keeping both Barcelona-based Carandini and Torà-based LEDS C4 (both are in Catalonia) nameless while burying reference to “the sale of the company’s Spanish lighting business” within a long, convoluted list of actions that it excluded from adjusted results.

Tagged with: , , , ,
Posted in Industry News

Leave a Reply

Your email address will not be published. Required fields are marked *


Featured Product


Featured Job