(Italy) – Italian manufacturer A.A.G. Stucchi has enhanced its presence in the European market with the acquisition of track lighting specialists Eutrac, formerly a part of the Selux Group, which has a strong presence in Germany and Europe.
Historically focused on the production and sales of lighting components, A.A.G. Stucchi is using the acquisition to move further into the development of track lighting products.
“This acquisition is fundamental for the development of our long-term business strategy and we are very proud to welcome Eutrac staff into the Stucchi family,” said Aristide Stucchi, President of A.A.G. Stucchi. “Europe, and specifically the German markets, are crucial for our growth. Having Eutrac as a partner is essential to bring brand awareness to our products. I am confident we can develop even better innovations, thanks to the expertise and market knowledge of Eutrac.
“We strongly believe having a German company working on the German market is the right choice for our business development. Two teams in one family that can complete each other and work together to strengthen common knowledge on market and product innovation.”
Klaus-Peter Siemssen, CEO of Selux Group, added: “Eutrac has always been a leading brand for tracks and components. To maintain this momentum, we were looking for a strong cooperation partner to globalise the business further. With Stucchi, we found the perfect fit.
“Eutrac as a company, team and brand will stay independent, and at the same time, these two companies can bring their strengths together. At the same time, Eutrac and Selux will maintain a close relationship, as Selux supports the Eutrac business in many areas, such as logistics, and the two companies will continue to share their headquarters in Berlin.”
Dr. Christoph Peitz, CEO of Eutrac, continued: “It goes without saying that both companies and especially the customers will benefit from this partnership. Innovative products and a complete portfolio will be offered in the covered markets the right way, thanks to A.A.G. Stucchi and Eutrac products and innovation combined with market experience.”