Essilor Pursues Its Growth Strategy by Signing Eight New Partnerships
*Strengthening of the Prescription Laboratory Network in Brazil
*Acquisition of Polarized Film Technology
*Completion of Two Major Transactions in Colombia and Turkey
CHARENTON-LE-PONT, France -- June 19, 2013
Actively pursuing its growth strategy, Essilor International (Paris:EI) has
signed 8 transactions to acquire operations in the United States, Brazil,
South Africa, India and Asia representing combined annual revenue of around
€30 million. These local partnerships are key growth strategy drivers for
Essilor which, in a still largely under-penetrated eyecare market, is
committed to delivering better visual health to people around the world.
In the United States, the world’s largest ophthalmic optics market, a majority
interest has been acquired in two prescription lens laboratories, Prodigy
Optical in Oklahoma, with annual revenue of around $3.5 million, and e.magine
Optical in Minnesota, with annual revenue of around $3 million.
In a still highly fragmented market, where demand for value-added products is
still largely untapped, Essilor intends to continue developing local
partnerships in a strategic drive to speed the spread of leading-edge
technologies while at the same time strengthening its local foothold.
In Brazil, the Company is extending its geographic coverage by forging its
first series of partnerships in the State of Minais Gerais, the country’s
second largest State in terms of population, through the acquisition of a
majority interest in two prescription laboratories based in Belo Horizonte,
PSA Nilo and Optiminas, with annual revenue of €6.7 million and €3.7 million
Essilor’s Brazilian network now comprises 13 partner laboratories and a stock
house, which offer a strong fit with its own manufacturing facilities.
In the sun lenses segment, Essilor has acquired a majority stake in Onbitt, a
South Korean manufacturer of polarized films for ophthalmic lenses, which
generates annual revenue of €5 million. Onbitt’s technological expertise will
boost the Company’s innovation capabilities and enhance its polarized lens
The acquisition emphasizes Essilor’s ongoing interest in this fast-growing
lens category. In addition to Xperio^®, its flagship polarized lens brand, the
Company recently acquired the exclusive license to manufacture and distribute
the Polaroid^® brand, enabling it to develop a range of high-quality,
mid-range polarized lenses in the United States, Europe and the world’s main
In Taiwan, Essilor has acquired a majority share in Shih Heng, a leading local
lens distributor that has its own prescription laboratory and generates €6.5
million in annual revenue. Shih Heng will be in charge of developing the
Kodak^® and BBGR brands in Taiwan, thereby enabling the Company to strengthen
its positions in the mid-range segment of this very active market. Shih Heng
is the fourth distribution network operated by Essilor in the country.
InIndia, Essilor has acquired a majority stake inDeepak Optic, a wholesaler
with annual revenue of around €1 million. Based in Surat, Deepak Optic is a
well recognized player in the State of Gujarat, where it is Essilor’s
Lastly, in South Africa, Essilor has acquired a majority interest in Spherical
Optics, a prescription laboratory based in Johannesburg with around €2 million
in annual revenue.
In addition, Essilor has completed the previously announced acquisitions of
Servi Optica in Colombia (annual revenue: €29 million) and Isbir in Turkey
(annual revenue: €15 million). The leading ophthalmic lens distributors in
their markets, these companies have been consolidated since April 18 and May
The world’s leading ophthalmic optics company, Essilor designs, manufactures
and markets a wide range of lenses to improve and protect eyesight. Its
corporate mission is to enable everyone around the world to access lenses that
meet his or her unique vision requirements. To support this mission, the
Company allocates more than €150 million to research and innovation every
year, in a commitment to continuously bring new, more effective products to
market. Essilor’s flagship brands are Varilux^®, Crizal^®, Definity^®,
Xperio^®, Optifog^TM and Foster Grant^®. It also develops and markets
equipment, instruments and services for eyecare professionals.
Essilor reported consolidated revenue of approximately €5 billion in 2012 and
employs around 50,700 people. It operates in some 100 countries with 22
plants, more than 400 prescription laboratories and edging facilities, as well
as several research and development centers around the world.
For more information, please visit www.essilor.com.
The Essilor share trades on the NYSE Euronext Paris market and is included in
the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.
Investor Relations and Financial Communication
Véronique Gillet – Sébastien Leroy – Ariel Bauer, +33 (0)1 49 77 42 16
Corporate Communication and Press
Maïlis Thiercelin, +33 (0)1 49 77 45 02
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