Essilor continues to buy up a storm. They just bought FGX in December for $465 Million and now they are increasing their global presence with the purchase of 10 other optical industry companies.
CHARENTON-LE-PONT, France, January 22 – Essilor International has signed ten acquisition or partnership agreements in its five global operating regions since October 2009. These companies generate combined annual revenue of around EUR35 million.
Two transactions in Europe to strengthen the multi-network strategy
- In France, Novisia, an Essilor subsidiary and the exclusive distributor of Nikon lenses in continental Europe, has acquired a majority
- stake in Mont-Royal, a lens distributor with a prescription laboratory in Goeztenbruck, in the Lorraine region, and annual revenue of around EUR10 million. The acquisition will strengthen Mont-Royal’s market presence while helping to speed Novisia’s development in France.
- In the UK, the Company has acquired a 95% equity interest in Horizon, a laboratory located in Bedfordshire, north of London, with annual revenue of EUR3.4 million.
Three transactions in North America to broaden the geographical coverage of the prescription laboratory network
- In the United States, Essilor has increased its market share by acquiring a majority or all the interest in three prescription laboratories: Ultimate Optical in Florida, with US$6.3 million in annual revenue, Optical Dimensions in Michigan, with US$3.7 million in annual revenue, and Truckee Meadows Optical in Nevada, with US$3 million in annual revenue.
A third transaction in Latin America
- Following its equity investments in the Unilab and Technopark prescription laboratories, the Company has acquired a 51% stake in GBO, a major distributor of finished and semi-finished lenses in Sao Paolo with 2009 revenue of approximately EUR3 million.
Two transactions in China and India to strengthen Essilor’s local market presence
- Essilor is expanding its coverage of the Chinese market with the acquisition of an ophthalmic lens manufacturer, Danyang ILT Optics Co. Ltd. The company generates revenue of nearly EUR7 million in the domestic and export markets.
- In India, Essilor has acquired Lens and Spects (EUR0.45 million in revenue), which comprises a distributor and two prescription laboratories operating in four cities in western India.
Two transactions in the Middle East and Africa to drive growth in new regions
- Following its acquisition of an equity interest in Dubai-based Amico, Essilor is pursuing its development in the Middle East. Essilor Amico Middle East FZCo has acquired a majority stake in Ghanada Optical Co. LLC (EUR1.7 million in revenue), a prescription laboratory located in Abu Dhabi that serves the United Arab Emirates and the Gulf Cooperation Council.
- Essilor is strengthening its positions in South Africa with the acquisition of Vision Optics (EUR0.7 million in revenue), a prescription laboratory based in Durban.
Essilor International is the world leader in ophthalmic optical products, offering a wide range of lenses under the flagship Varilux(R), Crizal(R), Essilor(R), Definity(R) and Xperio(TM) brands to
correct myopia, hyperopia, astigmatism and presbyopia. Essilor operates worldwide through a broad network of mass-production facilities, lens finishing laboratories and distribution centers.
The Essilor share trades on the NYSE Euronext Paris market and is included in the CAC 40 index.
Codes and symbols: ISIN: FR FR0000121667; Reuters: ESSI.PA;
Investor Relations and Financial Communications
Veronique Gillet – Sebastien Leroy
For further details on the purchase visit Vision Monday