PAI-Backed Marcolin Picks Up Highmark Eyewear Business

Law360, New York (October 24, 2013, 6:34 PM EDT) -- Highmark Inc.’s vision subsidiary has agreed to sell its Viva Optique Inc. eyewear unit to the PAI Partners-backed eyeglass frames maker Marcolin SpA in an all-stock deal, the companies said Thursday.

The acquisition of Viva Optique from Pittsburgh-based Highmark’s HVHC Inc. subsidiary, which also holds Visionworks of America Inc. and Davis Vision Inc., comes by way of a stock purchase agreement. Assuming the companies obtain the requisite regulatory approval, the deal is expected to close in the next few months.

Founded in 1961, Longarone, Italy-based Marcolin...
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