Essilor Forms New Strategic Partnerships

Published: 07-Jul-2009

Partnership to enter the markets in Europe, North America and the Middle East

Essilor has extended its external growth strategy through a number of recent transactions in Europe, North America and the Middle East.

The company has acquired all outstanding shares in De Ceunynck, a player in the Belgian market. The current management team of De Ceunynck would remain in place.

In the US, Essilor is continuing to expand its network with the acquisition of Barnet & Ramel Optical, Apex Optical, ABBA Optical, and Vision Pointe Optical. The four prescription laboratories are located in Nebraska, Florida, Georgia and Idaho, respectively. Essilor has also acquired a majority stake in OptiSource International, a manufacturer and distributor of optical supplies and consumables for opticians and laboratories.

The company has joined with Vision Service Plan (VSP) to acquire McLeod Optical, a prescription laboratory based in Rhode Island. Essilor will have a majority interest and VSP and the principals of McLeod will each own a minority interest in the company.

In the Middle East, Essilor and its partner Amico have signed a contract to set up a 50:50 joint venture, that would operate Amico’s prescription laboratory in Dubai. The laboratories are located in UAE, Oman, Qatar and Kuwait. With the current management team remaining in place, the joint venture will have exclusive distribution rights for the Varilux and Crizal brands in the region, and would provide Essilor with a foothold in the Middle East.

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