Dutch company buys Texas cannabis grow light firm for $272 million

A Dutch lighting giant signed a definitive agreement to acquire Texas-based Fluence, which provides grow lights to cannabis cultivators and other agricultural companies, for $272 million.

Netherlands-based Signify said in a news release that the acquisition is in line with its strategy to expand in “attractive growth segments” as well as its commitment to reduce resource consumption and increase horticultural yields.

Fluence will operate as an entity within Signify’s agricultural lighting business.

Fluence, which currently is a subsidiary of Munich-based Osram, employs more than 200 people and generated $141 million in revenue from October 2020 to September 2021.

Growing is all about the lighting: MJBizDaily Lighting Buyers Guide 

Read our exclusive guide for strategies and tips from expert cultivators who have amassed decades of experience studying horticulture lighting. Curated by MJBizDaily.

Inside:

  • Horticultural professionals debunk 8 common lighting myths in cannabis
  • How cannabis extraction companies can reduce energy costs
  • Why experts say the future of horticultural lighting is in LED technology
  • Cannabis lighting Glossary of Terms
  • Buyers checklist

The acquisition is expected to close in the first half of 2022, subject to regulatory approvals and other conditions.

Signify trades on the Euronext exchange as LIGHT.