ADD TO CALENDAR. 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… Read and download Luxottica Press Releases from 2005 and on. Beginning of the quiet period ahead of FY20 results — 15 Feb 2021. 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 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. For currently open merger cases follow this link open merger cases. 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. We will raise the quality of in-store experience for products, brands and services for the benefit of all consumers and our wholesale customers.”. 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. Essilor said the merger is designed to meet growing global demand for corrective lenses, sunglasses and luxury frames. 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. 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 announcement of the proposed merger was made in … “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. ADD TO CALENDAR. De Brauw Blackstone Westbroek is acting as legal adviser. 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. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Being a relatively recent announcement, there is still much speculation about the merger and opinions about its likely impact vary. Pagination. MILAN — A little more than a year after the announcement of the Essilor and Luxottica proposed merger in January 2017, the European Commission and … 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. Together, we will have an even stronger voice to champion better vision everywhere in the world.”. Mr Sagnières concluded: “We look forward to welcoming GrandVision to the growing EssilorLuxottica family. We look forward to welcoming the 37,000 employees of GrandVision to the growing EssilorLuxottica family. The transaction is supported by GrandVision’s management board and supervisory board. On this page you can search for all merger cases. October 2019  |  DEALFRONT  |  MERGERS & ACQUISITIONS. Hold on to Your Luxottica Shares as It Merges With Essilor The coming merger enhances the firm's prospects significantly. Upon completion, EssilorLuxottica will launch a mandatory public offer for the remaining GrandVision shares held by HAL. Essilor reorganizes itself to speed up its integration with Luxottica. EssilorLuxottica upcoming events. 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. “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.”. 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. They will be confirmed in revenue or earnings announcements during the year. 1. PDF 0.37MB. When Spring rolled around, the two new partners declared that the moniker EssilorLuxottica had been approved by its newly-created Board of Directors. ADD TO CALENDAR. PDF 0.91MB. After last year’s Essilor-Luxottica merger, the men behind the 2 merged brands butted heads. 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. Use our search feature to retrieve official announcements and news from the Group. 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. 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