EssilorLuxottica: ‘Acquisition mother Pearle continues’

The French-Italian eyewear and lens maker EssilorLuxottica remains behind the acquisition of optics company GrandVision. The company denies the rumors in the market that the company wants to return to its earlier decision to recruit Pearles parent company and EyeWish.

According to a spokesman for EssilorLuxottica, every effort is being made to complete the transaction. โ€œEssilorLuxottica remains committed to completing the transaction,โ€ it sounds. Furthermore, the company does not want to go into rumors in the market.

Initiates previously argued to Bloomberg news agency that the company was concerned about the impact of the coronacrisis on Pearles parent company and EyeWish. The increase in online sales of EssilorLuxottica itself would also make the acquisition of a group with physical stores less interesting.

Lockdown

ESSilorLuxottica reports that coronas situation, including lockdown measures in several countries, is seriously disrupting economic activity around the world. This is particularly the case in the retail market. โ€œThese circumstances affect each player,โ€ the company says.

EssilorLuxottica, known from among others sunglasses brand Ray-Ban, already waged a legal battle over the deal in vain. The group felt that GrandVision should provide more information about the changes it made to its operations.

Acquisition price

The company reached an agreement last summer to buy GrandVision from investor HAL for 7.3 billion euros. The Franco-Italian company could still try to bring the takeover price down in new negotiations.