In a $49 billion deal, Italian frames manufacturer Luxottica and French lens manufacturer Essilor announced that they will join up, EssilorLuxottica, that will be co-run by both groups.
BBC’s Ian Pollock writes that this largely uncommented deal should be a matter of more interest than its received.
These are two of the biggest firms in the lucrative international business of making spectacles. France’s Essilor is the world’s number one manufacturer of lenses and contact lenses, while Italy’s Luxottica is the leading frame manufacturer.
It is not obvious that the merger is in the public interest, though the two firms certainly think it is.
“The parties’ activities are highly complementary and the deal would generate significant synergies and innovation and would be beneficial to customers,” says Essilor.
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