IDEAL INDUSTRIES, INC. Acquires Cree Commercial Lighting and Intelligent Lighting Control Systems
Cree, Inc. (CREE)
Last cree, inc. earnings: 4/29 04:01 pm
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US:NASDAQ Investor Relations:
investor.cree.com/investor-relations
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Source: GlobeNewswire
SYCAMORE, Ill., March 15, 2019 (GLOBE NEWSWIRE) -- IDEAL INDUSTRIES, INC. today announced the acquisition of Cree Lighting, which includes the LED lighting fixtures, lamps and intelligent lighting control solutions business for commercial, industrial and consumer applications of Cree, Inc. (CREE – NASDAQ). Cree announced the pending change in ownership in a release earlier this morning. IDEAL also acquires the rights to use and operate under the Cree Lighting™ brand. Cree Lighting will become a separate operating division of IDEAL and will continue to be led by current management. The transaction is expected to close within the second quarter of 2019. “We’re very excited to welcome Cree Lighting to the IDEAL family,” said Jim James, Chairman and CEO of IDEAL INDUSTRIES, INC. “We’re acquiring a very special organization poised for sustained success, and we look forward to assisting Cree Lighting in realizing its full potential.” IDEAL is a family-owned, 103-year-old professionally
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