In China, Nikon Essilor acquired all outstanding shares of Nikon Beijing, its local distributor.
Present for more than 20 years in Brazil, Essilor made its first upstream acquisition in the country in 2007, taking an equity interest in Unilab, a prescription laboratory in the Northeast. The stake will be gradually increased to 51% by early 2011. Unilab has full-year revenue of around $5 million.
In January 2008, the Company completed the acquisition of Interstate Optical Co., one of the five largest independent prescription laboratories in the United States. Interstate's two laboratories in Mansfield, Ohio and Indianapolis, Indiana serve eye care professionals in 32 states. It has $26 million in full-year sales.
In February 2008, Essilor announced that it was acquiring Rainbow Optical Labs Inc., a Porto Rican prescription laboratory with $3 million in annual revenue. Separately, Essilor Canada acquired a majority stake in Westlab Optical Inc., a Montreal-based prescription laboratory with C$4 million in annual revenue.
Lastly, the Company is expanding more quickly in Eastern Europe by setting up operations in Bulgaria. Its new subsidiary Essilor Bulgaria Eood has acquired the business assets of Optymal Ood, which currently distributes Essilor lenses and instruments in Bulgaria and has nearly EUR1 million in revenue. The acquisition will enable the Company to actively participate in the fast growing corrective lens market, especially the progressive lens segment.
In early March, Essilor announced two new acquisitions:
- In the Netherlands, with O'Max, a distributor of optometry and lens edging instruments with EUR3.2 million in revenue.
- In India, with 20/20 Rx Lens, a Hyderaba
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