GLP Extends Its Portfolio with Takeover of Ehrgeiz

GLP has announced the takeover of German lighting solutions manufactures Ehrgeiz as of on January 1, 2019 and continues its expansion into new business areas. By taking over Ehrgeiz, GLP is resolutely continuing on its strong growth path and portfolio expansion, particularly in the outdoor sector, with innovative and high-quality solutions.

Stated Steven Braun, Managing Director of Ehrgeiz: "Since both companies are located in the same place and are active in the same market, there have always been points of contact. Ehrgeiz has been successfully developing and marketing products in an increasingly competitive market in recent years. This fact has not escaped GLP and there have been discussions as to how we can combine the strengths of both companies. I am delighted to be joining the GLP family, along with the Ehrgeiz team, and continue to develop great and innovative products.”

Udo Künzler, CEO of GLP, responded, "I am proud to welcome Steven and his Ehrgeiz team, and we look forward to working together. Ehrgeiz has developed a broad expertise in recent years and knows how to develop innovative products, and this is particularly evident in their outdoor products. The merger will expand GLP's portfolio in areas where we see great potential and will make us even stronger in the coming years. Taking on Ehrgeiz is a win-win and will drive us further in our global growth strategy.”