EssilorLuxottica announces it has signed an agreement with the South Korean company PUcore for the acquisition of all its assets and entities involved in the development, manufacturing and sale of monomers used in the production of high index ophthalmic lenses.
The activities acquired by EssilorLuxottica include a R&D unit, a materials production facility and a sales office in the Republic of Korea. As part of the transaction, the Group will also acquire an intellectual property portfolio in relation to the formulations of products and production processes.
Expanding Upstream Capabilities in Lens Manufacturing
“We are happy to welcome PUcore’s optical division and its talented teams into our Group. In line with our commitment to elevating standards in the research, development and manufacturing of ophthalmic lenses, this addition will allow us to widen our portfolio of patents, technologies and know-how and extend our expertise upstream in the value chain. By continuing to improve the production and formulation of high index monomers, we will raise the bar for the performance and sustainability of the processes and supplies used across the entire ophthalmic industry,” commented Francesco Milleri, Chairman and Chief Executive Officer, and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica.
The transaction is expected to close by the end of 2025 pending regulatory approvals and other customary closing conditions.
