EssilorLuxottica acquires ophthalmic lens division of South Korean PUcore
The deal is expected to close by 2025, after approval by the relevant regulatory authorities and at usual market conditions.
by Mo.D.
1' min read
1' min read
New acquisition for EssilorLuxottica. The French-Italian group announces the signing of an agreement with the South Korean company PUcore to acquire all its assets and divisions dedicated to the development, production and marketing of monomers used in the production of high-index ophthalmic lenses. In detail, the assets covered by the agreement include a research and development centre, a manufacturing plant and a sales subsidiary in Korea, as well as intellectual property rights related to chemical formulations and related industrial processes.
"We are delighted to welcome PUcore's optical division and its teams into our group. In line with our commitment to raise standards in ophthalmic lens research, development and manufacturing, this acquisition will enable us to expand our portfolio of patents, technologies and expertise and strengthen our upstream presence in the lens value chain. By continuing to innovate our formulation and manufacturing processes for high-index monomers, we will help further improve the quality and sustainability of our processes and supplies for the benefit of the entire industry," commented Francesco Milleri, president and chief executive officer, and Paul du Saillant, deputy chief executive officer, EssilorLuxottica.
The deal is expected to close by 2025 and is subject to approval by the relevant regulatory authorities and usual market conditions.
On the Paris market after an initial upward spurt in the early part of the session, the Essilux share is trading around parity.
