Essilor made 11 acquisitions during the first quarter of 2012, representing additional annual revenues of €52 million. Eight of them were carried out in the fast-growing emerging markets of Latin America, the Mediterranean basin, the Middle East and Asia.
In Latin America, the company acquired a majority stake in Crystal y Plástico, which owns two prescription laboratories in Mexico and has an annual turnover of nearly €9 million.
In the Middle East, it created a new subsidiary in Saudi Arabia after buying a majority interest in Magrabi Optical's laboratory in Jeddah, whose annual revenues are in the range of €4.5 million. Essilor also broadened its coverage of Turkey by acquiring a 51 percent stake in Opak, a lab in Istanbul that has annual revenues of €8 million.
In South Korea, Essilor acquired a stake of 80 percent in Incheon Optical, a distributor with annual sales of about €3 million. It also took over a majority interest in Optics India, a distributor of edging equipment for optical chains, prescription laboratories and hospitals.
In North America, Essilor bought a majority in Blue Optical, a prescription lab in Texas that generates annual revenues of about $3.5 million, and in Imperial Eyewear, a Canadian laboratory in the province of Ontario that specializes in sun lenses and wrap-around frames.
Essilor also increased its stake in Wallace Everett Lens Technology, an Australian lab, from 33 to 66 percent.
After March 31, Essilor set up operations in Eastern Africa by acquiring a majority stake in Optic Kenya.