BS News Release
NEWS RELEASE
Essilor agrees to acquire Luxottica
Paris-Ie-Pont (April 1, 2009 - 6:30 a.m.)
- Essilor International announced today that its US subsidiary, EOA Holding Co. Inc., has signed a share purchase agreement whereby it has offered to acquire the entire capital of Luxottica, a manufacturer of ophthalmic frames, licensed brand name frames, sunglasses and accessories as also some retail chains world wide.. The agreement is subject to certain standard conditions precedent, including approval by competition authorities in Luxotticas main host countries. The acquisition is expected to be completed in the second half of the year.
Headquartered in Milan in Italy, it has revenues of over EUR 1.24 billion. The Company’s manufacturing activities are carried out through six manufacturing facilities in Italy, two manufacturing facilities in China, one manufacturing facility in India and two manufacturing facilities in the United States obtained as part of the Oakley acquisition. During 2007, it manufactured approximately 41.8 million prescription frames and sunglasses, of which 0.8 million were attributable to the inclusion of prescription frames and sunglasses manufactured by Oakley.
Luxottica specializes in entry-level and high end products for independent eyecare professionals and integrated retailers as well as their own chain operations. Luxottica will continue to produce, market and distribute ophthalmic frames and sunglasses under their Luxottica, and licensed designer brands .
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Essilor International is the world leader in ophthalmic optical products, offering a wide range of lenses under the flagship Varilux", Crizal", Essilor~ and Definity" brands to correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 15 production sites, 270 lens finishing laboratories and local distribution networks. The Essilor share trades on the Euronext Paris market and is included in the CAC 40 index. (ISIN: FR 0000121667; Reuters: ESSIPA; Bloomberg: EI:FP).
Investor Relations and Financial Communications
Madeleine Gibotte - Jean Leboy
Phone: +37 (0)1 49 88 42 16
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