Press release
LSI Industries Acquires JSI Store Fixtures, Creating Leading Commercial Lighting and Display Solutions Company
LSI Acquires JSI Store Fixtures for $90 million in an All-Cash TransactionSignificantly Expands Presence Within Grocery, Convenience and Specialty Store
About this update from Lsi Industries Inc.
[{"type":"text","content":"LSI Acquires JSI Store Fixtures for $90 million in an All-Cash TransactionSignificantly Expands Presence Within Grocery, Convenience and Specialty Store Vertical MarketsTransaction to Drive Revenue Growth, Margin Expansion and Immediate Adjusted EPS AccretionLSI to Host JSI Acquisition Conference Call at 8:30 AM ET on Tuesday, May 25, 2021 CINCINNATI, May 24, 2021 (GLOBE NEWSWIRE) -- LSI Industries Inc. (NASDAQ: LYTS) a leading U.S. based manufacturer of commercial lighting and graphics solutions, today announced the acquisition of privately held JSI Store Fixtures (“JSI”) from RFE Investment Partners for a cash purchase price of $90 million. Maine-based JSI is a market-leading provider of retail commercial display solutions throughout North America. For more than 30 years, JSI has supplied major supermarket, convenience and specialty store chains with branded display solutions focused on enhancing the customer experience and driving store revenue. Multi-year growth in demand for fresh foods, prepared “grab-and-go” meals and evolving consumer purchasing habits have led to increased demand for JSI’s display fixtures across a deep base of established national accounts. JSI’s solutions are designed, engineered, manufactured and marketed from four facilities located throughout the United States and Canada. “JSI is an established market leader within the retail display solutions industry, one whose history of growth and innovation, attractive margin profile and loyal customer following within the supermarket, convenience and specialty store verticals are highly complementary to LSI’s existing portfolio of lighting and graphics solutions,” stated James A. Clark, President and Chief Executive Officer. “This acquisition will significantly increase LSI’s total addressable markets within the grocery and convenience store verticals, while driving meaningful revenue synergies across our combined product portfolio, consistent with our long-term strategic focus,” continued Clark. “At a commercial level, the combination of LSI’s graphics signage and JSI’s display fixtures businesses, together with our deep portfolio of lighting and program management solutions, will provide a compelling, one-stop value proposition for both new and existing customers.” “Just as the combination of our lighting and graphics businesses led to the creation of a com...