Lumileds to sell its Lamps and Accessories Business to First Brands Group

Lumileds and First Brands Group, LLC (“First Brands”), a global automotive parts manufacturer that serves the worldwide automotive aftermarket, have entered into an agreement for First Brands to acquire the Lamps and Accessories business of Lumileds for $238M. Under First Brands, the Lamps and Accessories business will continue to expand its global offerings and position its products and leading brands in the automotive accessories sector.

The sale is expected to close in the 2nd calendar quarter of 2024.

As part of the acquisition, Lumileds automotive lamps factories in China, Germany, and Poland will transfer with the Lamps and Accessories business. Lumileds will retain its factories and sites in The Netherlands, United States, Malaysia, Singapore, Germany and Jiaxing China.

Citi acted as financial advisor and DLA Piper acted as legal advisor to Lumileds.