All Corporate articles – Page 22
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News briefs
Zeiss is acquiring the entirety of Saxonia Systems, a German...
Zeiss is acquiring the entirety of Saxonia Systems, a German developer of enterprise software, for a price the companies have agreed not to disclose. They expect the German Federal Cartel Office to approve the deal in February 2020. Zeiss has owned 25 percent of Saxonia since September 2018, and the ...
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The board of directors of Italia Independent has agreed to...
The board of directors of Italia Independent has agreed to call a shareholders' meeting to clear a €7.8 million capital increase to finance the company's 2019/23 business plan, which aims for annual sales of €42 million in 2023 and a return to profitability in 2021 with an anticipated Ebitda of ...
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New Look Vision, Canada's largest optical retail company, has agreed...
New Look Vision, Canada's largest optical retail company, has agreed to acquire substantially all of the assets of Miami-based Coco Lunette Holding, which operates principally under the Edward Beiner banner with 12 locations in Florida and an annual turnover of 15.5 million Canadian dollars (€10.6m-$11.8). No financial details were released ...
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Standard Ethics has assigned an “EE-” rating to EssilorLuxottica, indicating...
Standard Ethics has assigned an “EE-” rating to EssilorLuxottica, indicating that the group's sustainability strategies and extra-financial reporting appear to be adequately aligned with the international voluntary guidelines proposed by the United Nations, the OECD and the European Union. It noted that, following the merger of Essilor and Luxottica, “a ...
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News briefs
The owner of the French Luz buying group, the Schertz...
The owner of the French Luz buying group, the Schertz group, has purchased the assets – that is, the software and brands – of Evioo, a purveyor of virtual try-ons for brick-and-mortar and online optical shops. Among other things, Evioo provides pharmacies with turnkey optical centers, complete with an optician ...
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News briefs
Hoya Corporation recently indicated that it could use its strong...
Hoya Corporation recently indicated that it could use its strong cash flow to expand its Life Care division, which includes the production of ophthalmic lenses, but it is now planning to invest in its Semiconductor Technology division. The Japanese group has made an unsolicited $1.4 billion bid for a producer ...
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News briefs
Safilo has invested about €1 million to upgrade the information...
Safilo has invested about €1 million to upgrade the information technology platform of its Italian manufacturing sites in Santa Maria di Sala and Longarone. The project, which was carried out in collaboration with AzzuroDigitale, has trimmed production times by 10 percent while reducing waste and the use of paper-based documentation.
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News briefs
Allergan's shareholders have approved the $63 billion takeover offer made...
Allergan's shareholders have approved the $63 billion takeover offer made by AbbVie, the U.S. biopharmaceutical company. The deal was announced on June 25 and is scheduled to close in early 2020, pending regulatory clearance. The U.S. Federal Trade Commission has asked both companies to provide additional information regarding the transaction.
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Short stops
Essilor has acquired a majority stake in Optimed, a leading...
Essilor has acquired a majority stake in Optimed, a leading distributor of ophthalmic instruments in Australia and New Zealand with annual revenues of about €10 million
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News briefs
Alcon has launched the production of its intraocular lenses at...
Alcon has launched the production of its intraocular lenses at a modern factory operated by Nanoptika in the city of Zelenograd, 51 km northwest of Moscow. By reducing its reliance on imported lenses to less than 50 percent, Alcon says it is also diminishing the chance of post-operative complications in ...
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News briefs
Red Circle, the investment firm of Renzo Rosso and his...
Red Circle, the investment firm of Renzo Rosso and his son Stefano, has increased its stake in Retrosuperfuture to a controlling interest of 51 percent. Through Red Circle, the Rosso family already controls important fashion brands such as Diesel, Maison Margiela, Marni and Viktor & Rolf. It also has investments ...
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News briefs
Leonardo Del Vecchio is the richest man in Italy and...
Leonardo Del Vecchio is the richest man in Italy and the 38th in the world, with a net worth of $24.6 billion, according to the latest real-time ranking of Forbes' list of billionaires. In Italy, he has overtaken Giovanni Ferrero, owner of the eponymous confectionery group Ferrero, which produces the ...
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News briefs
While preparing itself for an initial public offering (IPO) by...
While preparing itself for an initial public offering (IPO) by its parent company, the Inspecs Group, Killine has bought more land to expand its manufacturing operations in Vietnam, which already cover 15,000 square meters. The investment has provided for an extension 5,000 m², which will grow to 10,000 m² in ...
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News briefs
A U.S. private equity company, Windjammer Capital Investors, has acquired...
A U.S. private equity company, Windjammer Capital Investors, has acquired Hilco Vision in partnership with its management from Blue Point Capital Partners, which bought into the company in 2014. The terms of the deal were not disclosed. Hilco Vision is a U.S. distributor of branded and consumable professional eyecare products ...
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News briefs
An activist American hedge fund, Third Point, has bought an...
An activist American hedge fund, Third Point, has bought an unspecified stake in EssilorLuxottica, and continues to increase it, according to Reuters, which cited sources close to the matter. Another news agency, Bloomberg, put the stake at 1.2 percent. Third Point has a track record of prompting changes in the ...
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News briefs
Safilo is reducing its workforce ahead of the loss of...
Safilo is reducing its workforce ahead of the loss of the Dior license at the end of 2020. The group plans to cut more than 200 jobs at its Italian factories in Longarone, Santa Maria di Sala, Martignacco and Padua, which employ a combined 2,700 people. The downsizing includes the ...
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News briefs
Pramaor, the Italian company behind the Blackfin brand of titanium...
Pramaor, the Italian company behind the Blackfin brand of titanium eyewear, will see the production volumes of its original factory trebled by next May. It will also have more space to carry out varnishing and other operations internally, and for logistics.
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News briefs
As largely expected, Thélios, the joint venture between the French...
As largely expected, Thélios, the joint venture between the French luxury goods group LVMH and Marcolin, will take over the manufacturing of Dior eyewear from Safilo. Christian Dior is owned by LVMH, and Safilo's license agreement expires on Dec. 31, 2020. The first collection of Dior eyewear produced by Thélios ...
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News briefs
Lenskart, a big Indian optical retail chain with more than...
Lenskart, a big Indian optical retail chain with more than 500 stores in the country, is expected to be valued at 82,000 million rupees (€1.06bn-$1.16bn) when it finalizes a new funding round. The private equity firm Kedaara Capital is due to provide 3,920 million rupees (€50.6m-$55.3m) to the group by ...
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News briefs
Delfin, the holding company of Leonardo Del Vecchio's family, has...
Delfin, the holding company of Leonardo Del Vecchio's family, has acquired a 6.94 percent stake in a big Italian investment bank, Mediobanca. Created in 1946, Mediobanca was for many years, under the guidance of its co-founder Enrico Cuccia, the linchpin of private domestic capitalism. Its shareholders included some of Italy's ...
