Italy based Eyewear Giant Luxottica Group to acquire Óticas Carol of Brazil for around €110Mn ($117.64Mn). The transaction is supposed to close in first half of 2017 after customary regulatory approvals are gained.
With the acquisition Luxottica will take over all the 950 locations of Óticas Carol in Brazil.
Óticas Carol is a Brazilian Eyewear company that sells a broad range of prescription frames and sunglasses. Óticas Carol was established in 1997 by Odilon Santana Filho in São Paulo. It has over 950 stores across the country and a lens laboratory in Barueri , São Paulo.
About Luxottica Group
Luxottica Group is an Italian eyewear company. Based in Milan, Italy, it is the world’s largest eyewear company. It was founded by Leonardo Del Vecchio in 1961.
Luxottica designs, manufactures, distributes and retails its eyewear brands, including LensCrafters, Sunglass Hut, Apex by Sunglass Hut, Pearle Vision, Sears Optical, Target Optical, Eyemed vision care plan, and Glasses.com. Its best known brands are Ray-Ban, Persol, and Oakley.
Luxottica also makes sunglasses and prescription frames for designer brands such as Chanel, Prada, Giorgio Armani, Burberry, Versace, Dolce and Gabbana, Miu Miu, Donna Karan, Stella McCartney, and Tory Burch.