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. ADD TO CALENDAR. Upon completion, EssilorLuxottica will launch a mandatory public offer for the remaining GrandVision shares held by HAL. 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. Publication of the 2020 Interim Financial Report. The proposed €46bn (£40bn) merger of Essilor and Luxottica is progressing, with Essilor International taking major steps towards the finalisation of the transaction that was announced on 16 January. For currently open merger cases follow this link open merger cases. De Brauw Blackstone Westbroek is acting as legal adviser. Two global eyewear companies, Italy's Luxottica and France's Essilor, have decided to join forces to become even stronger and more international. 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. For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. EssilorLuxottica upcoming events. The Essilor Luxottica merger is the largest in the history of global eye care – exceeding the value of the Alcon Novartis merger by about four times with a combined market capitalisation of almost AU$65 billion. Essilor said the merger is designed to meet growing global demand for corrective lenses, sunglasses and luxury frames. EssilorLuxottica is acquiring GrandVision from Dutch private equity (PE) group HAL – which holds a 76.72 percent majority stake in GrandVision – at a cash purchase price equal to €28 per share – to be increased by 1.5 percent to €28.42 if closing of the acquisition does not occur within 12 months from the announcement date (31 July 2019). We will raise the quality of in-store experience for products, brands and services for the benefit of all consumers and our wholesale customers.”. For example, the combined entity's revenues will more than double compared to what Essilor had on a stand-alone basis prior to the merger. In turn, GrandVision will benefit from EssilorLuxottica’s commitment to, and investment in, product innovation, supply chain, talent development and digital knowledge to foster a richer relationship with GrandVision’s more than 150 million consumers. You can change your choices at any time by visiting Your Privacy Controls. Facebook; Twitter; Linkedin; 2020.03.30. ADD TO CALENDAR. ADD TO CALENDAR. Moreover, Essilor will gain access to Luxottica's global retail network and strong brand portfolio. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Together, we will have an even stronger voice to champion better vision everywhere in the world.”. ... ran from $70 to $105 even before the merger announcement… Luxottica and Essilor combined count more than 140,000 employees and sales in more than 150 countries. The announcement of the proposed merger was made in … We look forward to welcoming the 37,000 employees of GrandVision to the growing EssilorLuxottica family. PDF 0.37MB. And the numbers confirm the relevance of the deal: worth €46 billion, it is the second-biggest cross-border merger in Europe's history. Beginning of the quiet period ahead of Q1 2021 sales — 22 Apr 2021. On the same day, the Board of Luxottica announced that the merger is in the best interest of the company and all its stakeholders. 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. Rayban maker EssilorLuxottica said on Thursday it has rejigged an executive power sharing arrangement put in place when the company was created by a merger in 2018, promoting two internal managers to the top executive roles. ADD TO CALENDAR. 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. 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. Use our search feature to retrieve official announcements and news from the Group. With the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7200 stores globally, over 37,000 employees and €3.7bn in annual revenue. PDF 0.69MB. FY20 results — 12 Mar 2021. The positive outlook on the ratings continues to reflect the credit positives that the merger with Luxottica will entail for the combined entity. On January 15 th 2017, Essilor’s Board approved the agreement with the holding company of Leonardo Del Vecchio (Delfin). “This acquisition is another step towards our ambition to eradicate poor vision in the world before 2050,” said Hubert Sagnières, executive vice chairman of EssilorLuxottica. Download; Share. On this page you can search for all merger cases. Yahoo is part of Verizon Media. “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. Mergers Merger Cases. Essilor reorganizes itself to speed up its integration with Luxottica. October 2019 | DEALFRONT | MERGERS & ACQUISITIONS. Yet there’s a fundamental cultural disconnect that risks haunting the merger for years to come. First-half 2020 results. MILAN — A little more than a year after the announcement of the Essilor and Luxottica proposed merger in January 2017, the European Commission and … 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. What will the merger of Luxottica and Essilor mean for the eye care industry? 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. 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. For latest updates of cases follow this link updates of cases. The transaction is subject to various closing conditions, including regulatory approvals and mandatory consultation procedures, and is expected to close in 12 to 24 months. 31 Jul 2020. “With GrandVision, we will be able to develop our retail network, finally extended throughout the geographies, and fully enable our multichannel and digital platforms. 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… (i) the contribution to Essilor of the shareholding held by Delfin in Luxottica, representing 62.54% (as of today) of the share capital of Luxottica (the “Shareholding”), in exchange for Essilor shares to be issued on the basis of an exchange ratio of 0.461 Essilor share for 1 Luxottica share (as from which Essilor will change its corporate name into “EssilorLuxottica”); and Read and download Luxottica Press Releases from 2005 and on. On the surface, everything about combining Essilor and Luxottica makes complete sense. 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. After last year’s Essilor-Luxottica merger, the men behind the 2 merged brands butted heads. On January 16, 2017, Italy-based eyewear leader Luxottica SpA and French lensmaker Essilor International SA announced one of the largest cross-border mergers ever in Europe. Proposed Merger of Essilor International (Compagnie Generale d’Optique) S.A. and Luxottica Group S.p.A. Beginning of the quiet period ahead of FY20 results — 15 Feb 2021. Essilor Luxottica Merger is COMPLETE October 1, 2018 What was first announced in January of 2017—that Essilor and Luxottica planned to merge—has finally come to completion, with both optical giants revealing today the successful completion of the corporate combination. Acting as financial adviser to GrandVision is ING. 31 Jul 2020. They will be confirmed in revenue or earnings announcements during the year. 12 months from the announcement date ... Luxottica, it’s 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. The transaction is supported by GrandVision’s management board and supervisory board. 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. The bickering Del Vecchio and Sagnières eventually made nice, but they still haven’t managed to find a CEO for their company — and some analysts are skeptical the original merger will deliver $660m+ in savings as promised. Essilor and Luxottica launch EssilorLuxottica 360, their first joint commercial program in the United States. Corporate. 1. This means that the merger would strengthen Luxottica’s product design process, back-end production and … Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. 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 … Mr Sagnières concluded: “We look forward to welcoming GrandVision to the growing EssilorLuxottica family. Q1 2021 sales — 6 May 2021. Hold on to Your Luxottica Shares as It Merges With Essilor The coming merger enhances the firm's prospects significantly. PDF 0.91MB. 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. Pagination. Being a relatively recent announcement, there is still much speculation about the merger and opinions about its likely impact vary. “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.”. These products are offered through leading optical retail banners which operate in more than 40 countries across Europe, the Americas, the Middle East and Asia. In early 2017, the optical world was set abuzz when the industry’s largest frame manufacturer and distributor Luxottica announced it was planning to combine its business operations with Essilor International, the world’s preeminent vision lens and lab services provider. For Luxottica, the decision to merge with Essilor may also have been driven by the considerable gains it has made. Increased pace of consolidation for ECP’s. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. “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.”. When Spring rolled around, the two new partners declared that the moniker EssilorLuxottica had been approved by its newly-created Board of Directors. “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. 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