NEW DELHI: Minda Industries, an automotive component manufacturer, today announced the acquisition of the global lighting business of the rinder group in Spain for 20.1 million euros.

The acquisition includes 100% of the equity of Rinder Lightia and Systems and Technical Center in Spain and 50% of the equity of rinder Riducu in Colombia. The transaction will be financed through internal accruals and debt.

UNO Minda NK Group Chairman Minda “This acquisition will position Minda Industries as a technology leader in lighting solutions and further enhance the company’s R&D capabilities.

Minda Industries currently has an annual turnover of around Rs. 3 billion from its lighting business. As a result of the new acquisition, this figure will increase to around Rs. 755 crores. The acquisition will give Mindadaa access to Rinder India’s three plants in Bahadurgarh, Haryana and Chakan and Pimpri, Maharashtra.

Globally, the acquisition will help Minda Industries expand its presence in Indonesia and Vietnam. “Our vision is to achieve 25% of group sales through international business. The global acquisition will bring the company closer to its vision and further expand the geographical footprint of its current international operations.” 25% of group sales is 17%.

The Rinder brand name and intellectual property were also acquired as part of the deal. Compare this with UNOO. The integration of the MINDA brand is expected to be completed at a later stage. Minda said that the current focus is on the merger of Rinder India with UNO MINDA. There is no immediate capex requirement and an investment plan for next year will eventually be developed.

Rinder Group is engaged in the luxury lighting business with an annual turnover of €55 million (Rs 410 Cr). Rinder Group has its own technology and design center in Spain which will make Minda Group a major player in the lighting industry. In addition, synergies in terms of business sharing with customers, rationalization of suppliers and sharing of resources will enhance the profitability of Minda Industries. Deloitte and BMR traded to UNO MINDA Group for advisory services.

Founded in 1958, UNOMINDA Group is a leading provider of automotive solutions to original equipment manufacturers (OEMs). The company has manufacturing facilities in Indonesia, Vietnam, Spain, Morocco and Mexico and offices in Japan, Europe and China. It has 36 manufacturing facilities in India and joint ventures with Japan, Italy and India.