Connect with us

Headlines

Essilor and Luxottica ‘Confident’ Amid EU Investigation, Plan to Close Deal As Scheduled

They said they’ll cooperate with regulators.

mm

Published

on

Essilor and Luxottica announced that they’re “confident” a European regulatory review of their proposed merger will be “completed in a timely manner.”

They stated in a press release that they’ll “closely cooperate with the European Commission to fully demonstrate the rationale of the proposed combination and the benefits that it will bring to customers, consumers and all the eyewear industry players.”

They said they still expect the deal to close around the end of the year.

The companies noted that the transaction “has been unconditionally cleared so far in Russia, India, Colombia, Japan, Morocco, New Zealand, South Africa and South Korea.” They said the Phase II review of the deal in Europe was expected “given the size of the parties.”

The companies will also need regulatory clearance in the U.S.

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.

Advertisement

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.

SPONSORED VIDEO

SPONSORED BY WEAVE

Transform Your Multi-office Phone System Into a Revenue-generation Tool

Weave’s multi-office, multi-department, and multi-provider phone system is built to flexibly accommodate and augment your practices’ most powerful revenue-generation tool: ring phones across multiple locations, set up inter-office call overflow, support external call centers, and more. And by connecting to your patient data, call handlers see a patient’s upcoming appointments, overdue balances, overdue family members, and preferred location – all when they pick up the phone." Learn more at getweave.com/weave-unify

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular