Executive Summary

• Italy-based Luxottica (LUX.MI) and France-based Essilor (ESSI.PA) have agreed to a powerhouse eyewear industry merger valued at €46 billion. Luxottica’s current market value is €24 billion and Essilor’s is €22 billion.
• The long-anticipated merger represents one of Europe’s largest cross-border deals and unites the world’s largest consumer eyewear frame manufacturer with one of the main global ophthalmic lens manufacturers.
• The combined group will offer a comprehensive portfolio of strong brands, global distribution capabilities and complementary expertise in ophthalmic lenses, prescription frames and sunglasses. The deal is expected to be completed in the second half of 2017