Manfrotto & Lastolite - one & the same?

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It recently came to my attention that Manfrotto & Lastolite are now (if they haven't always been) the same company.

I was purchasing a magnetic attachment to hold up pop up backgrounds and I questioned manfrotto on their Facebook page about the similarities and they told me they were effectively the same company just manufacturing under separate names. It surprised me really as I always thought manfrotto were the premium brand and that lastolite were mid range. I'm not really sure of my point it just surprised they're selling the same products just with different badges!
 
Lastolite was bought by British company Vitec, owners of Manfrotto, a year or so ago. Vitec also owns Gitzo and Kata bags (now merged with Manfrotto) amongst other brands.

http://www.vitecgroup.com/
 
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