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Article Date: January 2017
Word Count: 171

Luxottica Set to be Acquired by Lens Maker

The Oakley parent will combine with French lens manufacturer Essilor in an all stock deal that values LUX at about €22.8 billion ($24.2 billion). The combined EssilorLuxottica will have a market cap of over €50 billion, revenues of over €15 billion and expects to realize €400 to €500 million a year in synergies. Luxottica founder and CEO Leonardo Del Vecchio will take the top job at the vertically integrated eyewear giant, while Essilor chief Hubert Sagnieres will become EVP and deputy CEO. Bloomberg reported that ... Log in to view full article.


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