The world leader in ophthalmic lenses, French group Essilor has strengthened its presence in China by acquiring two glass manufacturers and expanded in Switzerland by becoming the majority shareholder of Swiss Reize.
The two acquisitions in China lead to a turnover of 22 million euros annually.
Essilor has acquired a majority stake in Jiangsu Yuli Optics, a producer of ophthalmic lenses, which employs nearly 1,000 people in the city of Danyang, the company generates an annual turnover of around 15 million euros.
The French group has also become the majority shareholder of Jiangsu Seeworld Optical, which achieves a turnover of close to seven million euros and employs over 300 people. These two acquisitions, “illustrate the group’s desire to expand its presence in China,” said Essilor.
Meanwhile, the group acquired a majority stake in the Swiss Reize, whose sales amounted to almost 11 million euros and employs 60 people. The company “will continue to be led by its current team,” said Essilor.