Tuesday, November 4, 2014

Essilor to Spend More Than a Billion on New Acquisitions in 2015

Essilor International SA (EI)…may spend as much as 1 billion euros ($1.2 billion) next year on acquisitions globally as it expands into emerging markets,” according to a report on Bloomberg.com. “Essilor will focus on deals in fast-growing markets such as China, India and Latin America, Hubert Sagnieres, the Charenton-le-Pont, France-based company’s chairman and chief executive officer, said in an interview in Shanghai. He expects China to become the lensmaker’s top market in as early as five years…Essilor is eyeing partnerships and stakes in competitors globally to meet a revenue growth target of 13 percent this year, the executive said. Sales increased by 14 percent in the third quarter, boosted by acquisitions which included Canadian online retailer Coastal Contacts Inc. this year. The French company has spent about $2.6 billion on 17 acquisitions in the past three years with the biggest one being the $1.73 billion deal for the full control of its Transitions Optical venture, according to data compiled by Bloomberg.” Read more.

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