It is the same company, yes.
However, there were quite a few vendors that made the LP34 and LP42, like Walther, Lubecker, Erma, etc.
I beleive that Kreighoff specialized in the double-barrel flare pistol that was used more by the Luftwaffe than the Wehrmacht or Kreigsmarine.
The flares usually had a color band on the cartridge and a colored circle around the primer that denoted the color of the flare and the longer cartridge contained multiple flares (I beleive three stars, it memory serves right).
There was also a grenade cartridge for the flare pistol made available to ground forces, too.