Luminance Brands to Acquire Emerson's (EMR) Ceiling Fan Business
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Luminance Brands today announced that it has acquired Emerson Air Comfort Products from Emerson (NYSE: EMR). The acquired product lines from Emerson will enable Luminance Brands to expand its product offering in the global ceiling fan market.
This acquisition will bolster the current Concord Fan division and will enable the company to address a broader segment of the rapidly growing ceiling fan market. Additionally, Luminance Brands plans to incorporate several of Air Comfort Product's upcoming smart fan product lines into its BryteHome division, which addresses the connected home market.
"We are excited to add Emerson's Air Comfort Products group to the Luminance Brands family of companies," said Christopher Larocca, President and Chief Executive Officer of Luminance Brands. "Emerson introduced its ceiling fans to the market in 1895 and has remained a technology leader in the space. We look forward to continuing the tradition of innovating and delivering differentiated products to the market for many years to come."
Luminance Brands intends to open a sales and design center in the St. Louis area to accommodate the Emerson employees transitioning to Luminance Brands.
Terms of the transaction were not disclosed.
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