India’s Minda Industries Acquires Spanish Lighting Unit

India-based electrical components supplier Minda Industries Ltd. has acquired the global automotive lighting business of Spain’s Rinder Group for €20 million.

The acquisition will more than double Minda’s annual revenue to 7 billion rupees ($104 million). The company says the deal will bolster its operations in Indonesia and Vietnam and help it achieve a goal of generating 25% of its revenue outside India.

The purchase involves Rinder’s global headlamp, tail lamp and premium lighting businesses. The sale includes rights to Rinder’s brand, the Spanish company’s Indian unit and its three manufacturing facilities there, Rinder’s technical center in Bilbao, Spain, and a 50% stake in Rinder Riducu in Colombia.

Rinder’s customers in India include Bajaj, Ford, Hero, Maruti Suzuki and TVS. Its factories in the country also export parts for two-wheeler producers Kawasaki, KTM, Peugeot, Piaggio and Yamaha. Minda operates plants in India, Indonesia, Mexico, Morocco, Spain and Vietnam.