Essilor International Expands Its Footprint in Europe and Latin America

Tuesday, February 12 2019 | 11 h 12 min | News, Press Release

Essilor International, an EssilorLuxottica subsidiary, is actively pursuing its acquisition and partnership strategy with the completion of four transactions worldwide, representing combined full-year revenue of around €48 million.

Essilor further strengthens its development strategy in Germany, the fifth largest ophthalmic optics industry in the world. To speed up the development of a drive-to-store model that gives consumers access to the latest digital technologies combined with the expertise of independent opticians, Essilor signed an agreement to acquire 100% of Brille24 GmbH. The latter is one of the leading online retailers of optical products in Germany with annual revenue of close to €25 million. The acquisition of Brille24 is subject to approval of the German competition authority (Bundeskartellamt).

The Company reinforces its presence in Greece, where Essilor partner Shamir acquired Union Optic, a prescription laboratory that also distributes optical instruments. Union Optic generates annual sales of about €9 million and operates four branches across Greece and Cyprus. Union Optics acquisition by Shamir will strengthen the footprint of the Essilor Group in the territory, where Bairamoglou and Unilens are long standing distributors of Essilor lens and Nikon lens, respectively.

Essilor also expands its coverage of Latin America to ensure broader access to its innovations in markets there.

Essilor acquired a majority stake in Indulentes, one of the leading prescription laboratories in Ecuador with annual revenue of USD9 million. Indulentes will leverage Essilor’s technological know-how to accelerate its expansion in a local market that holds huge potential for progressive and antireflective lenses. This acquisition represents Essilor’s first move into Ecuador.

In Argentina, Essilor acquired a majority stake in Metalizado Optico Argentino S.A. (MOA), one of the country’s leading prescription laboratories. Buenos Aires-based MOA generates annual revenue of about USD7 million.

Click HERE for the full press release.