CLEVELAND- Hinkley Lighting has purchased the inventory, designs and rights to the name Fredrick Ramond from the estate of Fred R. Glassman.
The deal, terms of which were not disclosed, was expected to close on Friday, Nov. 9, Rick Wiedemer, president and principal of Hinkley Lighting, told HFN.
A 48-year lighting veteran, Glassman was founder, president and chief designer of Fredrick Ramond, a high-end lighting firm based in Cerritos, Calif., until his death last February.
Ramond's health had been failing and the business had slowed for the past few years.
Hinkley's purchase does not include any of the manufacturing and metal-working equipment, tooling or real estate, which are being sold separately.
Hinkley will move the inventory to its headquarters and warehouse here, and will focus on developing new products for the high-end brand.
"We will introduce a whole new look for the line at the January Dallas Market," Wiedemer told HFN. Going forward, the new Fredrick Ramond line will consist of fixtures only, which is Hinkley's forte, he said.
The Fredrick Ramond name and line complement Hinkley's interior and outdoor lighting, and give the company entree into the designer and contract markets.
"I think it's going to give us an upper-end brand where it has strengths in markets such as the West Coast, and in the designer and contract business, where there is recognition," Wiedemer said.
David De Luna, who has served as vice president and general manager of Fredrick Ramond, will join Hinkley to head up the line. De Luna will report to Wiedemer.
Carol Glassman, Glassman's widow and vice president of Fredrick Ramond, told HFN she's happy with the Hinkley deal.
"I'm very pleased that the Fredrick Ramond name will go on in the lighting industry," she said. "Fred will always be remembered as an icon in the industry. He gave back to the industry and left many beautiful designs." - Nancy Meyer