Essilor acquires Transitions Optical

Essilor International announced today that it has signed an agreement to acquire the 51% stake in Transitions Optical owned by PPG. The French giant already had a 49% stake in Transitions.

 

Under the agreement, Essilor will also acquire Intercast, a sun lens manufacturer based in Parma, Italy. The transaction, which is expected to close during the first half of 2014, will cost Essilor $1.73 billion, as well as a deferred payment of $125 million dollars over five years.  

 

Essilor and PPG have jointly developed Transitions Optical since it was founded 23 years ago. “We look forward to a continued strong relationship with PPG as they will be providing ongoing research and development services and optical dyes to Transitions Optical under multi-year agreements with Essilor,” said President of Transitions Optical, Dave Cole.

 

Hubert Sagnières, Essilor’s Chairman and CEO, said that the acquisition of Transitions Optical is fully aligned with Essilor’s strategy. The integration process should be smooth due to the strong ties already existing between the two entities. “It will enable us to boost expansion in the photochromic segment, which is growing twice as fast as the optical industry, notably in Asia, Latin America and Europe.”

 

Sources : http://www.essilor.com/en/Press/News/Documents/2013/CP_ACCORD%20TOI%2029%20juillet_A.pdf

http://www.bfmtv.com/economie/essilor-acquiert-transitions-optical-leader-mondial-verres-photochromiques-569392.html

 

Featured Posts

Carrera Official Partner of Gumball 3000 22nd Edition

From Toronto to Miami, Carrera Team special guests will bring cool energy to the Rally!

Learn More

Transitions Announces Canadian Consumer Media Campaign for 2022

Campaign features TV and digital ads, a partnership with Golf Canada that includes a video series and on-site activation

Read more

EssilorLuxottica to Accelerate Its Mission Activities with Launch of Unified Foundation

EssilorLuxottica announces the launch of the OneSight EssilorLuxottica Foundation marking a new chapter in the Group’s journey to achieve its unique Mission to help everyone in the world “see more and be more”.

Read more

Transitions Announces “My Authentic Transitions® Lenses” Contest

From April to December, 2022, eye care professionals and patients have a chance to win monthly cash prizes

Read more

CooperVision Appoints Alex Wilkes as President, Americas

CooperVision has named Alex Wilkes as President, Americas, effective June 14. Wilkes brings more than a decade of experience in the eye care industry, having most recently served as Senior Vice President and General Manager of Pearle Vision at Luxottica.

Read more

Carrera Official Partner of Gumball 3000 22nd Edition

From Toronto to Miami, Carrera Team special guests will bring cool energy to the Rally!

Learn More

Transitions Announces Canadian Consumer Media Campaign for 2022

Campaign features TV and digital ads, a partnership with Golf Canada that includes a video series and on-site activation

Read More

EssilorLuxottica to Accelerate Its Mission Activities with Launch of Unified Foundation

EssilorLuxottica announces the launch of the OneSight EssilorLuxottica Foundation marking a new chapter in the Group’s journey to achieve its unique Mission to help everyone in the world “see more and be more”.

Read More

Transitions Announces “My Authentic Transitions® Lenses” Contest

From April to December, 2022, eye care professionals and patients have a chance to win monthly cash prizes

Read More

CooperVision Appoints Alex Wilkes as President, Americas

CooperVision has named Alex Wilkes as President, Americas, effective June 14. Wilkes brings more than a decade of experience in the eye care industry, having most recently served as Senior Vice President and General Manager of Pearle Vision at Luxottica.

Read More

Carrera Official Partner of Gumball 3000 22nd Edition

From Toronto to Miami, Carrera Team special guests will bring cool energy to the Rally!

Learn More

Transitions Announces Canadian Consumer Media Campaign for 2022

Campaign features TV and digital ads, a partnership with Golf Canada that includes a video series and on-site activation

Read more

EssilorLuxottica to Accelerate Its Mission Activities with Launch of Unified Foundation

EssilorLuxottica announces the launch of the OneSight EssilorLuxottica Foundation marking a new chapter in the Group’s journey to achieve its unique Mission to help everyone in the world “see more and be more”.

Read more

Transitions Announces “My Authentic Transitions® Lenses” Contest

From April to December, 2022, eye care professionals and patients have a chance to win monthly cash prizes

Read more

CooperVision Appoints Alex Wilkes as President, Americas

CooperVision has named Alex Wilkes as President, Americas, effective June 14. Wilkes brings more than a decade of experience in the eye care industry, having most recently served as Senior Vice President and General Manager of Pearle Vision at Luxottica.

Read more

Carrera Official Partner of Gumball 3000 22nd Edition

From Toronto to Miami, Carrera Team special guests will bring cool energy to the Rally!

Learn More

Transitions Announces Canadian Consumer Media Campaign for 2022

Campaign features TV and digital ads, a partnership with Golf Canada that includes a video series and on-site activation

Read more

EssilorLuxottica to Accelerate Its Mission Activities with Launch of Unified Foundation

EssilorLuxottica announces the launch of the OneSight EssilorLuxottica Foundation marking a new chapter in the Group’s journey to achieve its unique Mission to help everyone in the world “see more and be more”.

Read more

Transitions Announces “My Authentic Transitions® Lenses” Contest

From April to December, 2022, eye care professionals and patients have a chance to win monthly cash prizes

Read more

CooperVision Appoints Alex Wilkes as President, Americas

CooperVision has named Alex Wilkes as President, Americas, effective June 14. Wilkes brings more than a decade of experience in the eye care industry, having most recently served as Senior Vice President and General Manager of Pearle Vision at Luxottica.

Read more