CHARENTON-LE-PONT, France, June 8 /PRNewswire-FirstCall/ -- Essilor today announced that it has signed an agreement with Johnson & Johnson Vision Care Inc. to acquire The Spectacle Lens Group, Johnson & Johnson Vision Care Inc.'s ophthalmic lens business.
The transaction is subject to approval by US antitrust authorities and is expected to close in the third quarter.
Created in 1999, The Spectacle Lens Group has developed the Definity(TM) brand of progressive lenses, featuring unique Dual Add(TM) technology that divides progressive add power between the front and back surfaces.
Definity(TM) was introduced in select US test markets in late 2002 and is well respected among local eye care professionals and consumers. To help speed further development, Essilor will continue to manufacture Definity(TM) progressive lenses and distribute them in the United States through its traditional marketing and distribution networks.
The acquisition is fully in line with Essilor's strategy of offering innovative, high value-added products. The Dual Add(TM) and related technologies will enhance the Company's research programs to improve and personalize its offering of progressive lenses.
Essilor International is the world leader in ophthalmic optical products, offering a wide range of lenses under the flagship Varilux(R), Crizal(R), Airwear(R) and Essilor(R) brands to correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 16 production sites, 185 lens finishing laboratories and local distribution networks.
The Essilor share trades on the Euronext Paris market and is included in the CAC 40 index (ISIN: FR 0000121667; Reuters: ESSI.PA; Bloomberg: EF FP).
Investor Relations and Financial Communication Veronique Gillet Phone: +33-(0)1-49-77-42-16 www.essilor.com
EssilorCONTACT: Investor Relations and Financial Communication, Veronique Gillet,Phone: +33-(0)1-49-77-42-16 www.essilor.com