CHARENTON-LE-PONT, France--(BUSINESS WIRE)--Regulatory News:
- Operations significantly strengthened in Brazil
- Transactions in South Africa and India
Pursuing its strategy of making targeted acquisitions, Essilor International (Paris:EI) has signed eight new transactions around the world. These partnerships represent combined full-year revenue of around €40 million, of which two-thirds in fast-growing countries.
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In Brazil, Essilor has signed three new agreements with leading
local prescription laboratories. The Company has acquired majority
stakes in Embrapol Sul, located in the Paraná region with
approximately €9.3 million in revenue, Tecnolens (Bahia,
€7.3 million) and Farol (Rio Grande do Sul, €7.2 million).
These partnerships will enable Essilor to deepen its distribution
network and speed the deployment of its product and service portfolio
– including its Varilux and Crizal lenses – for eyecare professionals.
In addition, the Company has increased to 51% its equity investment in Unilab, a prescription laboratory in Northeastern Brazil that generates annual revenue of €6.3 million.
- The Company has also strengthened its operations in South Africa by signing a partnership agreement with Easy Vision, which distributes lenses to independent laboratories and generates €1.5 million in revenue. In India, Essilor is continuing to expand its geographic coverage with the acquisition of a majority interest in Prakash, a prescription laboratory with annual revenue of €300,000.
- In the United States, Essilor of America added two new partners to its laboratory network: Winchester Optical, in New York State, with revenue of around $9.3 million, and NEA Optical, based in Arkansas with revenue of $3.7 million.
- In France, Essilor has acquired a stake in Essor, a lens distributor with revenue of more than €5 million, of which a significant portion in the French West Indies. The acquisition will strengthen the Company’s offering in the mid-range segment, in particular for independent opticians.
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The world leader in ophthalmic optical products, Essilor International researches, develops, manufactures and markets around the world a wide range of lenses to improve and protect eyesight. Its flagship brands are Varilux®, Crizal®, Essilor®, Definity® and Xperio™. The Company reported consolidated revenue of more than €3.2 billion in 2009, with 34,700 employees and operations in 100 countries. For more information, please visit www.essilor.com. The Essilor share trades on the NYSE Euronext Paris market and is included in the CAC 40 index. Codes and symbols: ISIN: FR FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP. |