Essilor International has signed an agreement to acquire FGX International Holdings, the leading designer and marketer of non-prescription reading glasses in the U.S., in an all-cash deal valued at USD$565 million.
Under the terms of the agreement, which has been approved by both companies’ boards of directors, FGX International will be merged as a wholly owned subsidiary of Essilor. FGX International products, which also include sunglasses, are sold in more than 68,000 retail locations, including mass merchandisers, drugstores, ophthalmic retailers and department stores.
Their portfolio includes Foster Grant, Magnivision, Angel, Gargoyles, Anarchy, SolarShield, PolarEyes and Corinne McCormack, and they also hold licenses for brands such as Ironman, Levi Strauss Signature, Body Glove and C9 by Champion.
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