ITALY. Luxottica Group has acquired leading optical glass sun lens manufacturer Barberini in a deal worth €140 million. The transaction is subject to customary closing conditions and is expected to be finalised by the third quarter of 2018.
Luxottica said with this transaction it is consolidating its strategy of focusing on excellent production facilities and “made in Italy” quality. Luxottica added that the transaction allows the group to strengthen its know-how in glass sun and prescription lenses, which is considered the most valuable among optical materials. Barberini has historically produced glass sun lenses for Luxottica’s Ray-Ban and Persol models as well as many other luxury eyewear collections.
Barberini, founded by Pietro Barberini in 1963, is a key manufacturer of high-quality optical glass lenses for the most prestigious eyewear brands in the world. For more than 50 years, the company has developed new technologies and patents designed to expand applications of this glass in sun and ophthalmic lenses. Advancements have been made to characteristics such as thickness, weight, resistance and transparency.
Barberini achieves annual net sales of approximately €85 million. The company controls its entire manufacturing chain, from raw material to finished lenses, with cutting-edge industrial sites in Abruzzo (Italy), a plant in Germany for glass melting, and advanced technologies for the production of polarising films for sun lenses.
Luxottica Executive Chairman Leonardo Del Vecchio commented: “Luxottica welcomes to its industrial system worldwide excellence in the production of optical glass lenses. With the acquisition of Barberini we add another gem to our brands, a name that is well-known throughout the industry and synonymous with top quality, innovation and ‘made in Italy’. Barberini will allow us to strengthen our technological leadership in sun and ophthalmic lenses and opens great development opportunities for the future.”