CLEVELAND – Cleveland.com reported that Kichler Lighting of Independence, Ohio is being purchased by Masco Corp. of Michigan.
The 80-year-old company that specializes in interior lighting fixtures is expected to retain the Kichler name and "operate in many ways as a stand-alone business," said Masco spokeswoman Sue Sabo.
That includes not making changes in Kichler's 700-person workforce, 400 of them in Northeast Ohio. "At this time, we do not anticipate relocating or eliminating any positions," she said. Companywide, Masco has 26,000 employees.
According to Cleveland.com, the acquisition of Kichler is expected to close by March 31. It is a cash deal and the price was not disclosed.
Read the full story here.
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