Connect with us

Headlines

Luxottica and Essilor to Merge, Reports Say

The combined group would have 130,000 employees.

mm

Published

on

Luxottica and Essilor are planning a merger, Reuters reports.

The 45 billion euro (US $47.8 billion) deal was set to be announced on Monday prior to the opening of the market, according to the news agency, which cited “a source with knowledge of the matter.”

The Financial Times also reported on the agreement, describing it as a 50 billion euro (US $53.1 billion) deal. According to the newspaper, which also cited unnamed sources, Luxottica founder Leonardo Del Vecchio “will become the largest single shareholder in the merged group and will control 31 per cent of voting rights.”

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.

Together the companies would have about 130,000 employees, according to the Financial Times.

Advertisement

Read more at Reuters and the Financial Times.

.

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected].

Advertisement

SPONSORED VIDEO

SPONSORED BY ESSILOR

Introducing EssilorLuxottica 360

A new program powered by Essilor, Luxottica and EyeMed that is designed to help your practice improve traffic, visibility and patient experience while maximizing profitability. Learn More at 360.EssilorLuxottica.com

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

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

Advertisement

Most Popular