MILAN (Reuters) -California-based VSP Vision, the owner of eyeglasses manufacturer Marchon, has agreed to buy Italian spectacles maker Marcolin from private equity firm PAI Partners, the two eyewear
Marchon-owner VSP Vision buys maker of Tom Ford glasses Marcolin from PAI
VSP Vision's Strategic Acquisition of Marcolin
MILAN (Reuters) -California-based VSP Vision, the owner of eyeglasses manufacturer Marchon, has agreed to buy Italian spectacles maker Marcolin from private equity firm PAI Partners, the two eyewear groups said on Friday.
Details of the Transaction
The two companies did not provide financial details on the transaction. The binding accord concludes a drawn-out sale process that has involved, at some stage, rivals such as Kering Eyewear, EssilorLuxottica and Safilo, which all decided against a possible acquisition.
Background on Marcolin
Reuters reported in early 2024 top managers at Marcolin had started meeting potential suitors while they prepared the group for a possible sale or a merger by renewing a series of key commercial accords.
Financial Performance
Marcolin, which holds a permanent licence to produce Tom Ford-branded eyewear among others, reported net revenues of 546 million euros ($639 million) last year.
($1 = 0.8542 euros)
(Reporting by Elisa Anzolin; Editing by Valentina Za)
