Essilor Scoops Up US Eyewear Firm For $565M

Law360, New York (December 16, 2009, 12:50 PM EST) -- French lens maker Essilor International announced Wednesday that it has inked a deal to acquire U.S.-based FGX International Holdings Ltd. in an all-cash transaction valued at approximately $565 million.

The deal to acquire the Smithfield, R.I., eyewear product designer and marketer includes the repayment of some $100 million in FGX debt. Under the terms of the agreement, which has already been approved by both boards of directors, FGX will be merged with a wholly owned subsidiary of Essilor, the companies said.

The deal's price represents a...
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