The former owner will stay on.
Hilco Vision announced the acquisition of LBI’s cases and accessories division located in Las Vegas.
LBI’s Las Vegas operations will remain in place and former owner Chett Lehrer will stay on, assuring continuity for the future, according to a press release.
"The consumer accessories category is an increasingly important one for Hilco Vision as we seek to simplify the buying experience for our customers," said Ross Brownlee, CEO of Hilco Vision. "We have long been impressed by the capabilities and loyal customer base that LBI has built for their cases and accessories programs. We are excited to expand their reach and intend to leverage our own digital capabilities to enhance even further the customer experience."
Lehrer added that LBI "prides itself on an exceptional product and customer focus."
"We have strong belief that partnering with Hilco Vision will bring an even stronger proposition to our customers while protecting what we have built over more than 20 years," Lehrer said.
The two companies will operate independently for the next few months according to the integration roadmap, with LBI continuing to support sales and service, the release stated.
Hilco has direct subsidiaries in the U.S., Canada, UK, Germany, Benelux, Australia, New Zealand, Hong Kong and China. Its product portfolio is concentrated on five product categories: professional tools, vision protection, consumer accessories, lenscare and eyecare.
LBI, founded in 1949, was one of the first eyewear companies to import European styles in North America, according to the release.