Fagerhult Group has decided to exit its South African business Lighting Innovations
Lighting Innovations is one of the main domestic manufacturers of professional lighting solutions in South Africa, with a turn-over of 161 ZAR million (~85 SEK mn) in 2019.
‘Since the acquisition in 2015, Lighting Innovations has managed the LED transition and maintained a position as a strong local brand for professional lighting solutions. However, the market has not developed as expected and we have decided to focus our investments on more attractive growth opportunities in other markets’, says Bodil Sonesson, CEO Fagerhult Group.
The process will be completed during 2020.