Essilor Steps up its International Development With Ten New PartnershipsBy Essilor, PRNE
Thursday, January 21, 2010
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
- Two transactions in Europe to strengthen the multi-network
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
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 Phone: +33-1-49-77-42-16 www.essilor.com
Investor Relations and Financial Communications: Veronique Gillet - Sebastien Leroy, Phone: +33-1-49-77-42-16
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