Minda Industries, an automobile components manufacturer, on Thursday said it has acquired global lighting business of Spain-based Rinder Group that manufactures automotive lamps with a total deal of around 20 million Euros.

Rinder Group manufactures head lamp, tail lamps and small lamps. The acquisition includes 100 per cent equity holding in Rinder India Pvt Ltd and light systems and technical centre, Spain along with 50 per cent equity holding in Rinder Riducu, Colombia.

The deal will be financed through internal accruals and the debts, Minda said.

As a part of the deal, Rinder’s brand name and intellectual property rights have also been acquired. Integration and merger with Uno Minda brand name will be finalised at a later stage.

Minda Industries manufactures at its plants at Manesar, Pune and north of Delhi, having turnover of around ₹300 crore per annum. With this acquisition, Minda Industries’ lighting business will have turnover in excess of ₹ 700 crore, the company said.

“This acquisition will establish Minda Industries as technology leader in lighting solutions and will further augment the research and development capabilities of the company,” N K Minda, Chairman of Uno Minda Group said.

“Our vision is to achieve 25 per cent of group turnover from international business. The overseas leg of this global acquisition will ensure that the company moves closer to its vision and expand its geographical footprints further,” he added.

Rinder Group operates in premium segment of lighting business with annual turnover of 55 million Euros (₹410 crore).

Rinder India’s plant is located at Chakan and Pimpri in Pune, and Bahadurgarh, Haryana. Light Systems and Technical Center is located at Bilbao, Spain and Rinder Riducu’s plant is situated in Colombia.

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