First-Quarter 2016 Report: Revenue up a Robust 9.4% Excl. the Currency Effect

Acquisitions and Partnerships Since the beginning of the year, Essilor has stepped up its strategy of forging local partnerships, with nine new transactions representing combined revenue of around €100 million on a full-year basis. In South Africa, a majority stake has been acquired in One Vision Optical Pty Ltd., an eyewear, readers and sunglasses distributor with around €6 million in revenue, which also markets comprehensive vision solutions to independent opticians. It holds strong positions across sub-Saharan Africa.

In Canada, Essilor has acquired a majority stake in Axis Medical Canada Inc., an optical instruments distributor to eyecare professionals with revenue of around CAD 6 million. It will enable the Company to drive faster sales of instruments, particularly its refraction and optometry technologies. Essilor has entered the Peruvian market with the acquisition of Ocutec Laboratorio, a prescription laboratory with around €3 million in revenue. It will enable Essilor to expand its product and brand portfolio in a country where there are more than 30 million inhabitants and strong demand for better vision.

These acquisitions come on top of the five transactions already announced since the beginning of the year, i.e., Vision Direct in the United Kingdom, iCare Industries in the United States, OPV in Chile and two small laboratories in Brazil.

Lastly, on April 1, Essilor of America completed an investment in Opti-Port LLC, a U.S. alliance of leading, multi-office eyecare practices. This acquisition will continue to strengthen the independent eyecare profession in the United States by accelerating key programs designed to deliver a stronger patient experience.


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