Eyewear conglomerate EssilorLuxottica announced July 17 that it had agreed to acquire an 80 percent stake in Heidelberg Engineering, a leader in ophthalmic diagnostic imaging.
Financial details were not disclosed. The transaction was expected to close in H2-2024, the companies said.
Germany’s Heidelberg markets the Spectralis and Anterion lines of optical coherence tomographers (OCTs), and developed the SeeLuma digital surgical microscope, which is marketed by Bausch + Lomb.
EssilorLuxottica, a French and Italian company, said the deal was a key step in its strategy to delve further into medical technology.
Heidelberg was founded in 1990 and has a sales presence in more than 100 countries. The established Heidelberg brand will continue as part of EssilorLuxottica, the companies said.
Christoph Schoess, co-founder and managing director of Heidelberg, said the company’s goals going forward include delivering higher-resolution imaging and integrating AI solutions into its Heyex health care IT platform.
$1.5 Billion Deal for Supreme
Also on July 17, EssilorLuxottica announced it would pay $1.5 billion to buy streetwear brand Supreme from VF Corporation—marking the first acquisition of an apparel company for the eyewear giant.
That deal was also expected to close by the end of 2024.
VF, owner of Vans and North Face, bought Supreme in 2020 for $2.1 billion.
Report: Meta Eying Stake in EssilorLuxottica
Meta Platforms, owner of Facebook and Instagram, is considering buying up about 5 percent of EssilorLuxottica, its production partner for Ray-Ban smart glasses, according to a report July 18 in the Wall Street Journal.
Reuters reported the stake could be worth $4.73 billion, based on EssilorLuxottica’s latest market value.
EssilorLuxottica’s brands, besides Ray-Ban, include Oakley, Varilux, Transitions Optical, LensCrafters, and Sunglass Hut. The company recorded global 2023 revenue of €25.4 billion (US $27.8 billion, calculated on July 17, 2024).