The Big Get Bigger!
As anticipated, Luxottica is going to merge with Essilor. While so positioned, in fact, Essilor is acquiring Luxottica in a stock swap worth ±$24bb to Luxottica shareholders. The resultant company (we’ll call them “EssiLux”) will be the dominant player worldwide in both the lens, frame, retail and online eyewear business. This announcement is big news […]
Perspective on the Marriage of Essilor and Vision Source
Before I make comments about this latest consolidation development, I feel obligated to disclose:
• I have many friends at Essilor and have had business relationships with them in the past. Our firm does not currently have any business relationship with the firm.
Insurance Business Unloads Optical
For the second time in as many months, an insurance company is dumping their eyewear products businesses. Following Highmark’s divestiture of Viva, WellPoint (NYSE: WLP) today announced it has signed a definitive agreement to sell its online contact lens retail subsidiary 1-800 CONTACTS to private equity firm Thomas H. Lee Partners. Additionally, the company has […]
Why is HVHC (Highmark) Ejecting Viva?
MILAN, Italy and SAN ANTONIO, Oct. 24, 2013 /PRNewswire/ — Marcolin SpA and its affiliates backed by leading European private equity firm PAI Partners together with HVHC Inc., the holding company for Visionworks of America, Inc., Davis Vision, Inc. and Viva Optique, Inc. (Viva International), today announced the signing of a Stock Purchase Agreement under which Marcolin agrees to […]