EssilorLuxottica : EssilorLuxottica Signs Agreement to Acquire Walman in the U.S.
25 Marzo 2021 - 11:00AM
EssilorLuxottica : EssilorLuxottica Signs Agreement to Acquire
Walman in the U.S.
EssilorLuxottica Signs Agreement to
Acquire Walman in the U.S.
The transaction will create growth opportunities
for Walman, a longtime partner of EssilorLuxottica
Charenton-le-Pont, France, and
Minneapolis, Minnesota (March 25, 2021 – 6:00 pm) –
EssilorLuxottica has entered into an agreement to acquire U.S.
based lab network Walman. Walman, which has been a leading partner
to vision care practices around the country for more than 100
years, will draw on EssilorLuxottica’s focus on product and service
innovation to create growth opportunities for the company.
The U.S. is the largest optical market in the
world but there are still significant opportunities. Both the
progressive lens and anti-reflective categories as well as
developing solutions like Myopia management require resources to
grow in this competitive industry. EssilorLuxottica’s investment in
Walman will allow customers to leverage these existing and future
opportunities to grow the market.
“Walman is a company we’ve admired as a longtime
partner - they share EssilorLuxottica’s customer-first sensibility
and our relentless pursuit of higher service standards. They also
share our history of employee shareholding, which makes them an
ideal cultural fit for our family. Walman has cultivated broad
recognition and relationship equity and we will invest in the areas
that make them such a great partner to the industry,” commented
Francesco Milleri and Paul du Saillant, respectively CEO and Deputy
CEO of EssilorLuxottica.
Walman has a network of 35 facilities across the
U.S., including prescription lens-finishing labs and hubs for
optical instruments and other vision care products. As part of
EssilorLuxottica, Walman will continue to serve the market under
the Walman brand, delivering the same customer intimacy, service
and solutions their customers have come to expect.
“EssilorLuxottica’s investment in Walman is an
important next step for our customers and employees”, said Marty
Bassett, President & CEO of Walman. “It was time for Walman to
find an investment partner to support its future success. We chose
EssilorLuxottica because of our shared values and their proven
history of working with independent businesses to accelerate growth
while supporting the entrepreneurial spirit and company culture
that made each business successful in the first place.”
The transaction is expected to close in the
coming months pending regulatory approvals and other customary
closing conditions.
About EssilorLuxottica
EssilorLuxottica is a global leader in the design, manufacture and
distribution of ophthalmic lenses, frames and sunglasses. Formed in
2018, its mission is to help people around the world to see more,
be more and live life to its fullest by addressing their evolving
vision needs and personal style aspirations. The Company brings
together the complementary expertise of two industry pioneers, one
in advanced lens technology and the other in the craftsmanship of
iconic eyewear, to set new industry standards for vision care and
the consumer experience around it. Influential eyewear brands
including Ray-Ban and Oakley, lens technology brands including
Varilux and Transitions, and world-class retail brands including
Sunglass Hut and LensCrafters are part of the EssilorLuxottica
family. For more information, please visit
www.essilorluxottica.com.
About WalmanSince 1915, Walman
has been focused on the success of Eye Care Professionals for the
betterment of patient care. It is its pledge to deliver the speed,
accuracy and service ECPs need and deserve to ensure their patients
know they are the only choice for their eyecare. Walman generated
approximately US$ 500 million in revenues in 2020.
Contacts:
EssilorLuxottica Investor
Relations(Charenton-le-Pont) Tel: + 33 1 49 77 42
16(Milan) Tel: + 39 (02) 8633 4870E-mail:
ir@essilorluxottica.com |
EssilorLuxottica Corporate
Communications(Charenton-le-Pont) Tel: + 33 1 49 77 45
02(Milan) Tel: + 39 (02) 8633 4470E-mail:
media@essilorluxottica.com |
- DOWNLOAD PDF VERSION OF THE NEWS RELEASE