It received antitrust approval.
Essilor and Luxottica announced that their proposed merger has received antitrust approval in Canada.
The deal got the OK from the Canadian Competition Bureau, according to a press release.
Canada was one of five jurisdictions where antitrust approvals were needed in order for the deal to close. The transaction has been cleared so far in 10 other jurisdictions: Australia, Colombia, India, Japan, Morocco, New Zealand, Russia, South Africa, South Korea and Taiwan.
Approvals are still needed in the U.S., Europe, China and Brazil.
Luxottica, based in Milan, Italy, is the largest eyewear firm in the world, with a brand portfolio that includes names such as Ray-Ban and Oakley. Its retail division includes many well-known names, including LensCrafters, Sunglasses Hut and Pearle Vision.
Essilor, which makes lenses as well as instruments and equipment, is based in France. Its brand portfolio includes names such as Varilux, Crizal, Transitions and Foster Grant.