EssilorLuxottica has acquired the remaining 50% of ophthalmic lens company Kibbutz Shamir it didn’t own.
Prior to its merger with Luxottica, Essilor acquired a 50% stake in Shamir for US$130 million in 2011. Terms of the latest transaction were not released. A letter to key customers from Shamir reported in international trade media called the latest transaction an amazing milestone. “Now we can take advantage of unique opportunities to strengthen complementary distribution networks, well-known brands, and our leading optical products and solutions… It allows us to continue to strengthen the cooperation between our commercial and R&D teams to leverage areas of excellence and to continue to expand Shamir's presence in the market."
New Zealand country manager for Shamir, ILS’ Glenn Bolton told NZ Optics that for New Zealand customers it would be business as usual. He said he welcomed the decision as it will provide even greater investment for R&D for Shamir, which will continue to operate independently.
Founded in 1972, Shamir today operates in 23 countries, through 18 international optical laboratories, and employs more than 2,500 staff. Shamir Optical CEO Yagen Moshe will continue to lead the company and report directly to EssilorLuxottica CEO Francesco Milleri. “Shamir has a very identifiable company culture with a strong family feel and a personal touch that our clients have felt for decades – our approach will remain the same,” Moshe told Vision Monday.
