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Essilor International moves forward with four worldwide acquisitions
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Essilor International, an EssilorLuxottica subsidiary, is continuing its acquisition and partnership strategy through the completion of four transactions worldwide. These acquisitions represent a combined full-year revenue of about 48 million.
According to the company’s press release, Essilor signed an agreement to acquire 100% of Brille24 GmbH, an online retailer of optical products in Germany. Brille24 GmbH generates an annual revenue of nearly 25 million. The acquisition is subject to approval of the German competition authority.
Essilor partner, Shamir, acquired Union Optic, a prescription laboratory that also distributes optical instruments. Union Optic generates annual sales of about 9 million, according to Essilor. The Union Optics acquisition adds the company to the ranks of Essilor’s other Greek distributors, including Bairamoglou and Unilens.
Essilor has acquired a majority stake in Indulentes, a prescription laboratory in Ecuador with annual revenue of $9 million. This acquisition represents Essilor’s first move into Ecuador, according to the company’s release.
In Argentina, Essilor acquired a majority stake in Metalizado Optico Argentino S.A., one of the country’s prescription laboratories. The Buenos Aires-based Metalizado Optico Argentino generates an annual revenue of about $7 million. According to Essilor’s press release, Argentina is home to 45 million people and one of Latin America’s largest ophthalmic optics markets.