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Acuity Brands, Inc. (NYSE: AYI) (“Company”) announced today that it has reached an agreement to acquire the Arize® family of horticulture lighting products from Current Lighting Solutions, LLC (”Current Lighting”). The Company has also reached an agreement with Hort Americas, LLC for it to remain as the exclusive distributor of these horticulture lighting products throughout the U.S., Canada, and Mexico.
“By adding these high-powered, greenhouse-focused luminaires to our horticulture lighting portfolio, Acuity Brands will be positioned to greatly expand our product offering to the fast-growing controlled environment agriculture market, while taking advantage of our lighting and controls expertise to help growers increase productivity while decreasing energy consumption,” said Tony Gineris, VP & General Manager, Industrial and Outdoor, Acuity Brands Lighting and Lighting Controls. “In addition, we will be aligning ourselves with Hort Americas, an established leader in the commercial greenhouse space.”
Founded in 2009, Hort Americas (Bedford, TX) works closely with qualified manufacturers to bring to market quality, technically advanced, and cost-effective products for use in commercial greenhouses, vertical farms, and controlled environment agriculture applications. Hort Americas has focused on understanding how LED grow lights can help growers improve production and improve their operating expenses by decreasing energy consumption since 2010. They constantly work with growers to understand their needs and respond with science-supported educational materials, while working with their manufacturing partners to develop products that meet those needs.
“Hort Americas is extremely grateful to have had the opportunity to work with Current Lighting (previously known as GE Current, a Daintree Company) to help develop a lineup of LED grow lights with proven reliability over time,” said Chris Higgins, President of Hort Americas. “We are now excited to partner with Acuity Brands and continue building on the success, as well as the products, technology, and services, so many growers have come to depend on.”
The transaction with Current Lighting is expected to close by the end of January 2024 when the Arize products will join the Verjure™ series of horticulture lighting products from Acuity Brands. The Hort Americas agreement will go into effect upon the closing of the transaction with Current.
“We know we need scale, proven customer service, strong warranties and a reputation for engineering high-quality products to be successful,” Higgins added. “Only a few companies in North America can offer all of these characteristics. We are confident that one of leading lighting technology companies in North America, Acuity Brands, will be a partner to help us advance the horticulture industry going forward.”
About Acuity Brands
nAcuity Brands, Inc. (NYSE: AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces, light, and more things to come. Through our two business segments, Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives.
We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and location-aware applications. Acuity Brands, Inc. is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by more than 12,000 dedicated and talented associates. Visit us at www.acuitybrands.com
