EssilorLuxottica buys remaining 50% stake in Shamir Optics

Published date03 August 2022
Publication titleGlobes (Rishon LeZion, Israel)
A letter seen by "Globes" sent by Shamir management to opticians said the acquisition is an, "Amazing milestone for Shamir optics because now we can take advantage of unique opportunities to strengthen complementary distribution networks, well-known brands, and our leading optical products and solutions, which will allow Shamir to lead the market with swift commercial decisions, and rapid service and response to the market's needs. This decision is the logical step that continues our longstanding partnership with EssilorLuxottica. It allows us to continue to strengthen the cooperation between our commercial and R&D teams in order to leverage areas of excellence and to continue to expand Shamir's presence in the market and accelerate the launching of innovative products and solutions for the benefit of our customers and consumers. At present there is no change in our routine activities and procedures."

Shamir optical was founded in 1972 and today operates in 23 countries through 18 international optical laboratories and has over 2,500 employees. In 2005, the company began trading on Nasdaq but was delisted after Essilor acquired its 50% stake in 2011. The company was valued at $225 million when it held its IPO and $260 million when Essilor bought its stake.

Shamir Optical CEO Yagen Moshe will continue to lead...

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