Italian eyewear specialist De Rigo Vision SpA has signed an agreement to acquire Rodenstock’s eyewear division.
Munich-based Rodenstock is a global leader in eye health innovation and manufacturer of biometric and ophthalmic lenses, and it is selling its eyewear business to De Rigo to help it transform into a leading med-tech company in vision care.
Rodenstock’s eyewear division includes house brand Rodenstock Eyewear and the license for sunglasses and prescription frames for Porsche Design, which complement De Rigo's product portfolio of Philipp Plein, Roberto Cavalli, Furla, and Blumarine.
Financial terms of the deal were not disclosed, just that the transaction is expected to be completed towards the end of the second quarter of next year.
In a statement, De Rigo said that the acquisition of Rodenstock Eyewear is part of its strategic plan to fuel its international expansion and growth in the premium eyewear segment.
De Rigo Vision to strengthen distribution and footprint with Rodenstock Eyewear acquisition
The acquisition will also reinforce De Rigo’s distribution platform in central Europe and in particular in the German market, which the eyewear group states, “offers strong growth opportunities”. The integration of the Rodenstock eyewear division into the De Rigo business will also strengthen the sales network in Germany and in international markets.
Maurizio Dessolis, executive vice chairman of De Rigo Vision, said: “I am proud to announce this agreement with Rodenstock, with whom we share the values of operational excellence and a client and people-centric business: the keys to our companies success.
“We are delighted to complement our portfolio of premium products with the prestigious Rodenstock brands, building a new champion in the eyewear business. We are confident that building on our global platform and network we will be able to support the continued growth of the business and its brands.”
Marcus Desimoni, chief financial officer of Rodenstock, added: “The clear focus on our B.I.G. Vision glasses and our lens business will allow Rodenstock to continue its financial growth path. Additionally, we ensure that Rodenstock Eyewear and Porsche Design Eyewear are enabled for future growth by giving them in the hand of De Rigo, a world leader in the eyewear business.
“With De Rigo, we have found a buyer that will ensure business continuity for our eyewear business, and we look forward to our continued collaboration.”