Luxottica and Essilor Announce Mega Merger

Wednesday, January 18 2017 | 00 h 00 min | Agreements and Acquisitions, Financial News, Latest News, News

UPDATE: Essilor and Delfin to create a global integrated player in the eyewear industry with the combination of Essilor and Luxottica. Click HERE for the full press release.

January 16: Merger reports confirmed by Luxottica holding company and Essilor.   Read the details as published by Vision Monday …

January 15:
Reuters news is reporting tonight that a 46 Billion Euro merger of giants Essilor and Luxottica will be announced prior to stock market opening tomorrow, Monday January 16th.  The deal reshapes the landscape of the industry bringing together the worlds largest optical frame company, with the leading lens and lab services company.  In addition to frames and lenses, both companies have substantial market share of the traditional brick and mortar retail sector and e-retailing entities.

According to the sources, Leonardo Del Vecchio, Luxottica’s  will become the largest single shareholder in the merged group and will control 31 per cent of voting rights. The two companies are approximately the same market value, making it a merger of equals, according to the reports.

The merged entity would reach revenues of nearly 16 billion euros and employ around 140,000 people world wide.

As early as March last year, Luxottica denied  reports of a possible alliance  with Essilor and  Carl Zeiss, saying the relationship it had with the two groups was that they both were among its suppliers.

VuePoint will report further information once available.

Source:  http://www.reuters.com/article/us-essilor-m-a-luxottica-group-idUSKBN14Z110