Essilor buys Supreme and Heidelberg Engineering!
Big news from Essilor! $EL.PA (EssilorLuxottica SA)
EssilorLuxottica is known as the global market leader for spectacle lenses and frames. But the French-Italian group apparently also has other interests and is expanding its product range: yesterday, our company announced that it was buying the fashion and lifestyle brand Supreme from VF Corp. VF itself acquired Supreme only four years ago for 2.1 billion dollars and had high hopes for it. Recently, however, things have not gone so well for the Americans overall. In the last financial year, the fashion holding company even posted a loss of almost one billion dollars. In order to streamline itself again and create financial leeway, VF is now selling the Supreme brand - but Essilor is only paying 1.5 billion dollars for it. $VFC (VF Corp)
And that's not all the Group surprised its shareholders with more news. Essilor is also acquiring an 80% stake in Heidelberg Engineering. Founded in 1990, the German company develops diagnostic devices for ophthalmology. EssilorLuxottica is thus broadening its base and demonstrating that it can also grow outside the pure eyewear business. The share remains interesting in the long term.... Show More
