By Valentina Za and Sudip Kar-Gupta MILAN/PARIS (Reuters) - Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. PDF 0.69MB. ADD TO CALENDAR. Being a relatively recent announcement, there is still much speculation about the merger and opinions about its likely impact vary. In a merger which creates a truly global eyecare and eyewear company, French-Italian ophthalmic optics company EssilorLuxottica has acquired Dutch optical retailer GrandVision in an €8bn deal. The announcement of the proposed merger was made in … On the surface, everything about combining Essilor and Luxottica makes complete sense. PDF 0.91MB. For Luxottica, the decision to merge with Essilor may also have been driven by the considerable gains it has made. For currently open merger cases follow this link open merger cases. Francesco Milleri, originally of Luxottica, will become chief executive with Paul du Saillant, of Essilor, stepping up as deputy CEO, the group said, until its shareholder meeting in 2021. The transaction is supported by GrandVision’s management board and supervisory board. On January 16 Luxottica and Essilor announced the 50-billion-euro merger deal to create an eyewear giant with over 140,000 employees and sales in some 150 countries. There has already been a lot of activity in this sphere, with companies such as MyEyeDr and Clarkson Eyecare buying many independent ECP’s as well as smaller regional chains. And the numbers confirm the relevance of the deal: worth €46 billion, it is the second-biggest cross-border merger in Europe's history. ADD TO CALENDAR. Yet there’s a fundamental cultural disconnect that risks haunting the merger for years to come. We will raise the quality of in-store experience for products, brands and services for the benefit of all consumers and our wholesale customers.”. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Essilor and Luxottica Marriage Approved By Daniel Feldman, October 1, 20 LUXEMBOURG and CHARENTON-LE-PONT, France—Twenty months after announcing the biggest deal in optical industry history,Delfin S.a.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International have completed the combination of Essilor and Luxottica. Beginning of the quiet period ahead of Q1 2021 sales — 22 Apr 2021. “The acquisition of GrandVision represents the realization of a vision that has guided my actions and the growth of Luxottica over all these years,” said Leonardo Del Vecchio, executive chairman of EssilorLuxottica. ADD TO CALENDAR. De Brauw Blackstone Westbroek is acting as legal adviser. Corporate. Mergers Merger Cases. A global leader in optical retailing, GrandVision offers a wide range of services provided by its vision experts, prescription glasses including frames and lenses, contact lenses and contact lens care products, and sunglasses. 31 Jul 2020. Download; Share. You can change your choices at any time by visiting Your Privacy Controls. No stranger to large-scale acquisition, EssilorLuxottica itself is a result of the €46bn merger of Italy’s Luxottica Group SpA and France’s Essilor International SA in 2017. On January 16 Luxottica and Essilor announced the 50-billion-euro merger deal to create an eyewear giant with over 140,000 employees and sales in some 150 countries. Q1 2021 sales — 6 May 2021. On this page you can search for all merger cases. Facebook; Twitter; Linkedin; 2020.03.30. While the deal is not technically a case of vertical integration, Essilor’s R&D spendings are roughly 10,000x greater than Luxottica’s, which only total $24,000. Making glasses and sunglasses fashionable has been the key to selling them at a high price Since their impending merger was announced in January, there … Hold on to Your Luxottica Shares as It Merges With Essilor The coming merger enhances the firm's prospects significantly. “With GrandVision, we will be able to develop our retail network, finally extended throughout the geographies, and fully enable our multichannel and digital platforms. The positive outlook on the ratings continues to reflect the credit positives that the merger with Luxottica will entail for the combined entity. Essilor celebrates this major milestone, an incentive to generalise eye tests and facilitate access to eyecare, and reinforces its commitment towards safe mobility, as a vision care leader and as a donor to the United Nations Road Safety Fund. After last year’s Essilor-Luxottica merger, the men behind the 2 merged brands butted heads. This means that the merger would strengthen Luxottica’s product design process, back-end production and … For latest updates of cases follow this link updates of cases. The combined company, which should have an estimated market value of about €47bn (pre-synergies), will be a global leader in the €90bn fast-growing eyewear industry. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Lex’s Jonathan's Guthrie and Alan Livsey discuss the €50bn merger between Luxottica, the leading consumer eyewear group and owner of Ray-Ban, Oakley and Sunglass Hut, and Essilor… “The future integration of GrandVision with EssilorLuxottica brings new opportunities to GrandVision’s business, its well-established retail banners, stores, employees and all our stakeholders,” said Stephan Borchert, chief executive of GrandVision. ... ran from $70 to $105 even before the merger announcement… Publication of the 2020 Interim Financial Report. “Furthermore, it will create a truly global eyecare and eyewear company that is ideally positioned to capture changing consumer needs and behaviours, and provide customers with a high quality optical omnichannel customer experience.”. Mr Sagnières concluded: “We look forward to welcoming GrandVision to the growing EssilorLuxottica family. Use our search feature to retrieve official announcements and news from the Group. Essilor said the merger is designed to meet growing global demand for corrective lenses, sunglasses and luxury frames. MILAN — A little more than a year after the announcement of the Essilor and Luxottica proposed merger in January 2017, the European Commission and … Moreover, Essilor will gain access to Luxottica's global retail network and strong brand portfolio. Luxottica and Essilor combined count more than 140,000 employees and sales in more than 150 countries. 31 Jul 2020. In a merger which creates a truly global eyecare and eyewear company, French-Italian ophthalmic optics company EssilorLuxottica has acquired Dutch optical retailer GrandVision in an €8bn deal. Acting as financial adviser to GrandVision is ING. Two global eyewear companies, Italy's Luxottica and France's Essilor, have decided to join forces to become even stronger and more international. On the same day, the Board of Luxottica announced that the merger is in the best interest of the company and all its stakeholders. “It is a milestone in our vision of reshaping the optical industry with the aim to provide all consumers of the world a better optical experience with higher quality eyewear.”. October 2019 | DEALFRONT | MERGERS & ACQUISITIONS. For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. 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