Luxottica Group

Luxottica Group closes the acquisition of Óticas Carol in Brazil

Luxottica Group S.p.A. (MTA: LUX), a leader in the design, manufacture, distribution and sale of fashion, luxury and sports eyewear, announced today the closing of the acquisition of 100% of the shares in Óticas Carol, one of the largest optical franchisors in Brazil with approximately 990 locations.

The transaction, which has an enterprise value of approximately Euro 110 million, obtained the clearance by the Brazilian antitrust authority (CADE) and marks Luxottica’s entry into the optical retail business in Brazil. Luxottica currently operates a network of Sunglass Hut and Oakley “O” stores in Brazil and has a solid presence through its wholesale business and a manufacturing plant in Campinas.

Established in 1997, Óticas Carol sells a broad range of prescription frames and sunglasses, with annual system sales of approximately Euro 200 million. Óticas Carol has achieved significant growth in recent years, strengthening its management team and growing its retail footprint, largely through established partnerships with franchisees.

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