Tura and Eschenbach Group to Merge
The Eschenbach Group has aquired Tura, an US based eyewear supplier as of November 30, 2009. Tura founded over 70 years ago is known for their Lulu Guinness, Ted Baker London, Tourneau and Goldfish eyewear brands. Eschenbach distributed under the name BBH Eyewear carries the brands, Titanflex, Humphrey’s, Brendel, Marc O’Polo and the Bogner Eye collections.
- “Following the acquisition of International Eyewear in the United Kingdom in 2008, our merger with Tura marks a major milestone on the road towards establishing a global presence in the eyewear market, over and above the growth opportunities offered by the American market,” explains Wolfgang Rebstock, Chief Executive Officer at Eschenbach Group.
- Peter Schwind, head of the Eyewear Division at Eschenbach, adds: “In acquiring Tura, we intend to more firmly anchor our product portfolio in North America, and further broaden the importance of our brands. Recent talks indicate that Eschenbach has thus additionally positioned itself as a candidate for international brand licenses.”
- Tura President John Weir views the merger with Eschenbach as a tremendous opportunity for both companies. “With the Eschenbach Group, we have found a partner who will support Tura’s independence over the long term. Together, we’ll be working to continue to tap into the enormous potential offered by the U.S. market.”
- “We are delighted that we have once again been able to bring two companies together that complement each other so ideally. Two years ago, we set out at Eschenbach to work together with its management to support the Group’s strategic growth on a sustained basis. With two add-ons within merely two years, we are already very close to achieving that goal,” notes Michael H. Bork, Managing Director of Barclays Private Equity Germany.
Tura will continue to operate separately and acquire the BBG division in the US and Canada
Eschenbach was founded in Nuremberg in 1913 and has developed into one of the most remarkable players in the optical industry with its three divisions, Eyewear, Optics and Technical Optics. Eschenbach’s Eyewear Division is the market leader in Germany and numbers among the top six European suppliers of eyeglass frames and sunglasses.
Eschenbach designs, produces and distributes its products under the TITANflex, Humphrey´s, Brendel, crush, oio and fineline brands, as well as under the Marc O’Polo and Bogner Eyes licensed brands. The Optics Division is the world market leader in optical and electronic vision aids and a major supplier of binoculars. The Technical Optics Division develops and produces customized plastics-based optical components for high-tech applications in the sensor technology, automotive and solar markets, among others. The Eschenbach Group is represented by subsidiaries in nine European countries, the United States and Japan. It currently employs a workforce of more than 500 people, including some 350 in Germany.