Essilor has acquired Nassau Lens Company, described as the #1 direct distributor in the USA of stock lenses to eye care professionals. It also distributes soft contact lenses. Based in New Jersey, Nassau has 400 employees at 3 optical laboratories and 12 servicing locations throughout the country. Besides allowing Essilor to enter a new high-growth segment of the US market, the extensive customer portfolio of Nassau, which had sales of $62 million in 2003, should enhance its sales of Essilor products such as Varilux and Crizal. To help finance this and other planned acquisitions, Essilor has decided to raise between €248 and €295 million through convertible bonds.