Alec Taylor will remain Chief Executive Officer ofįGX International and FGXs management team will be unchanged.Ĭlosing conditions, including FGX International shareholder approval andĪpplicable regulatory clearances, and is expected to close in 2010. Rhode Island and it will also continue to maintain offices in San Luis Obispo,ĬA Toronto, Canada Stoke-on-Trent, England New York, NY Mexico City, International will be a stand-alone business unit of Essilor. FGX will benefit from our internationalĭistribution network while we will leverage FGXs brands and expertise toĭeploy this new offering around the world. The market fits well with our prescription lens business and is supported byįavorable demographic trends. ∽emand for non-prescription reading glasses is growing.
Said Hubert Sagnières, Essilors COO and CEO designate. Strengthens the companys business base and enhances its growth prospects, Segments around the world in order to meet a wide range of needs. Needed to provide a quality offering that covers different eyewear market We believe this transaction represents a significant value forĪcquisition is in line with Essilors strategy of procuring the resources We also find the Essilor culture compelling and aįit with ours. Our North American sales in over-the-counter reading glasses and popular-priced Essilors global footprint will allow us to expand our presence inĮurope, Asia and other parts of the world, while continuing to focus on growing Our products on a worldwide basis and will greatly enhance our competitive Taylor, CEO of FGX International commented This proposed merger is of majorĮssilors global reach will be of considerable strategic value to market Million (approximately $237 million, excluding the divested Jewelry business). Revenues for 2008 were approximately $256 Locations in the US, Canada, Mexico and the United Kingdom. FGX International products are found in over 68,000 retail Sell optical products under the Ironman, Levi Strauss Signature, C9 by ChampionĪnd Body Glove brands. Shield®, Polar Eyes®, Corinne McCormack®, Angel, Anarchy®, and FGX brands include FosterGrant®, Magnivision®, Solar In 2008, Essilor had revenues of approximately 3.1 billion.Īmericas leading designer and marketer of non-prescription reading glasses and Production sites, 293 lens finishing laboratories and local distribution Essilor hasĪpproximately 35,000 employees with a presence in approximately 100 countries, Lenses to correct myopia, hyperopia, astigmatism and presbyopia. Varilux®, Crizal®, Essilor® and Definity®, Essilor offers a wide range of World leader in ophthalmic optical products. If completed, FGX International will become a Of approximately $565 million, including the assumption of FGX debt ofĪpproximately $100 million. $19.75 per share in cash upon completion of the merger, for an aggregate value Of Directors of both companies, FGX International shareholders will receive The terms of the merger agreement, which was unanimously approved by the Boards Subsidiary of Essilor International of Charenton-le-Pont,Įuronext Paris market and are included in the CAC 40 index. Today announced that it has signed a definitive agreement to merge with a International Holdings Limited ( NASDAQ:FGXI) International to be acquired by Essilor International for $19.75 per share
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