Essilor finalizes six new partnerships in North America and Latin America
CHARENTON-LE-PONT, France -- January 31, 2014
Essilor International (Paris:EI) is pursuing its strategy of forging local
partnerships with the signing of six new transactions in the United States,
Canada and Brazil that represent combined full-year revenue of approximately
In the United States, the Company completed three new partnerships. Essilor
acquired majority stakes in two prescription laboratories – R. D. Cherry in
Michigan and Plunkett Optical in Arkansas – that generate revenue of,
respectively $9.8million and $3.3million. Essilor also acquired a majority
share in Frame Displays, a company that designs, manufactures and distributes
display furniture and accessories for optical stores, with revenue of
In Canada, Essilor strengthened its distribution network by signing a
partnership agreement with Riverside Optical, a group of prescription
laboratories that operates in Quebec and Ontario, with revenue of
C$26million. The agreement will allow Riverside to enhance its product
portfolio and speed the Company's local development in themid-range segment.
The Company also forged a partnership with Benson Edwards Optical Lab and CPS
360 Optical Lab, two Ontario-based prescription laboratories with revenue of
nearly C$3 million.
Lastly, in Brazil, Essilor reinforced its geographic coverage with the signing
of a partnership agreement with Comprol, which generates revenue of €5.4
million. This prescription laboratory is the Company's first facility in the
Federal District (Brasilia) whose 2.5 million inhabitants have the highest
average income of any state in the country.
Commenting on these new transactions, Hubert Sagnières, Chairman and Chief
Executive Officer of Essilor, said: “With 27 new transactions, the partnership
strategy was especially active in 2013, thereby enabling Essilor to strengthen
its ties with eye care professionals around the world and to deploy its
mission of improving eyesight. In an optics market that remains highly
fragmented, Essilor will continue to develop its regional deployment model,
which is unique and creates value for the Company’s shareholders.”
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 more than €5 billion in 2013 and
employs more than 50,000 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
Tel.: +33 (0)1 49 77 42 16
Tel.: +33 (0)1 49 77 45 02
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