EssilorLuxottica Signs Agreement to Acquire Walmanin the US

EssilorLuxottica has entered into an agreement to acquire US-based lab network Walman.

Terms of the deal were not disclosed.

EssilorLuxottica’s investment in Walman will allow customers to leverage existing and future opportunities to grow the market.

Walman has a network of 35 facilities across the U.S., including prescription lens-finishing labs and hubs for optical instruments and other vision care products. As part of EssilorLuxottica, Walman will continue to serve the market under the Walman brand.

“Walman is a company we’ve admired as a longtime partner—they share EssilorLuxottica’s customer-first sensibility and our relentless pursuit of higher service standards. They also share our history of employee shareholding, which makes them an ideal cultural fit for our family,” Francesco Milleri and Paul du Saillant, respectively CEO and Deputy CEO of EssilorLuxottica, stated in a news release. “Walman has cultivated broad recognition and relationship equity and we will invest in the areas that make them such a great partner to the industry.”

The transaction is expected to close in the coming months pending regulatory approvals and other customary closing conditions.