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Essilor Seals Ten Partnerships Agreements In Five Regions

Essilor International has signed ten acquisition or partnership agreements in its five global operating regions since October 2009. These companies generate combined annual revenue of around E35m.

The company claims that the two transactions in Europe to strengthen the multi-network strategy include that in France, Novisia, an Essilor subsidiary and the distributor of Nikon lenses in continental Europe, has acquired a majority stake in Mont-Royal, a lens distributor with a prescription laboratory in Goeztenbruck, in the Lorraine region, and annual revenue of around E10m.

The acquisition will strengthen Mont-Royal’s market presence while helping to speed Novisia’s development in France. In the UK, the company has acquired a 95% equity interest in Horizon, a laboratory located in Bedfordshire, north of London, with annual revenue of E3.4m.

A third transaction in Latin America following its equity investments in the Unilab and Technopark prescription laboratories, the company has acquired a 51% stake in GBO, a major distributor of finished and semi-finished lenses in Sao Paolo with 2009 revenue of approximately E3m.

Three transactions in North America to broaden the geographical coverage of the prescription laboratory network include in the US, Essilor has increased its market share by acquiring a majority or all the interest in three prescription laboratories, Ultimate Optical in Florida, with $6.3m in annual revenue, Optical Dimensions in Michigan, with $3.7m in annual revenue, and Truckee Meadows Optical in Nevada, with $3m in annual revenue.

Two transactions in China and India to strengthen company’s local market presence Essilor is expanding its coverage of the Chinese market with the acquisition of an ophthalmic lens manufacturer, Danyang ILT Optics. The company generates revenue of nearly E7m in the domestic and export markets. In India, Essilor has acquired Lens and Spects, which comprises a distributor and two prescription laboratories operating in four cities in western India.

Two transactions in the Middle East and Africa to drive growth in new regions include following its acquisition of an equity interest in Dubai-based Amico, Essilor is pursuing its development in the Middle East. Essilor Amico Middle East FZCo has acquired a majority stake in Ghanada Optical, a prescription laboratory located in Abu Dhabi that serves the United Arab Emirates and the Gulf Cooperation Council.

The company is strengthening its positions in South Africa with the acquisition of Vision Optics, a prescription laboratory based in Durban.