Acuity Brands, Inc. recently announced that it has entered into an agreement to acquire Juno Lighting LLC (Juno Lighting Group), a manufacturer of track and downlighting for both the residential and commercial markets, in a cash deal worth $385 million. Juno Lighting Group, a unit of Schneider Electric, serves customers throughout North America. Juno operates manufacturing facilities in Des Plaines, IL, and Fishers, IN, and generates current annual revenues of approximately $250 million.
The acquisition is subject to regulatory approvals and other customary closing conditions. Acuity anticipates the acquisition will be completed by the end of 2015.
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