The acquisition will add global brands to portfolio and is expected to be completed within three months subject to necessary regulatory approvals.
January 4, 2017
Shilpi Cable Technologies Ltd, one of the leading manufacturers of cables, wires, and accessories primarily for telecom, automobile, consumer durables, and power sectors, has acquired UAE-based Gulf Aglow LED Lighting FZCO (GAL). This marks the entry of SCTL into the growing LED market with an established partner. Apart from a vast manufacturing capability, this acquisition will give them the license to sell under the renowned Westinghouse brand and brand Galux in 54 countries.
Gulf Aglow LED Lighting FZCO, a UAE-based company incorporated in 2015, entered the lighting space by acquiring the 20 year old lighting business of Gulf Advanced Lighting LLC. It now manufactures and sells lighting products, including CFLs and LEDs, under its registered trademark Galux & licensed brand Westinghouse, through a retail network spread across Middle East and African countries. The acquisition will further strengthen SCTL’s foothold in the B2C space which is its core category. Additionally, this acquisition will expand company’s domestic consumer brand Safe overseas with the help of GAL’s strong distribution network.
