LIVONIA, Mich.—Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, announced today the completion of the acquisition of The L.D. Kichler Co. (“Kichler”) for approximately $550 million.
Based in Cleveland, Ohio, Kichler is a developer of decorative residential and light commercial lighting products, ceiling fans and LED lighting systems across both consumer and professional distribution channels.
In their January 8 release, Masco’s President and CEO, Keith Allman said, “We are excited about the prospects of expanding Masco’s reach into the fragmented $6 billion U.S. residential lighting industry. Kichler Lighting is a strong strategic fit with our focus on building products where brand, innovation and strength of distribution provide a competitive advantage. Kichler’s products share many of the same customers as numerous other Masco brands and will complement our current product offering while strengthening our relationships with these customers,” continued Allman.
Kichler had revenues of approximately $450 million in 2017 and employs approximately 700 people worldwide.Tagged with Kichler, Masco