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EssilorLuxottica to buy Supreme and Heidelberg Engineering

07/17/2024

Less than a minute

2024.07.17 03:10

MILAN (Reuters) – French-Italian eyewear maker EssilorLuxottica has agreed to buy streetwear brand Supreme from U.S. apparel and footwear group VF Corporation (NYSE:) for $1.5 billion in cash, both companies said on Wednesday.

The sale of Supreme is expected to be dilutive to VF’s earnings per share in fiscal 2025, according to the joint statement.

© Reuters. FILE PHOTO: Persol glasses are pictured for sale in a LensCrafters, both brands owned by EssilorLuxottica SA, in Manhattan, New York City, U.S., November 30, 2021. REUTERS/Andrew Kelly/File Photo

The deal is expected to close by the end of 2024, the companies added.

In a separate statement EssilorLuxottica said it had agreed to buy a 80% stake take in Heidelberg Engineering, a Germany-based company specialising in diagnostic solutions, digital surgical technologies and healthcare IT for clinical ophthalmology, without giving financial details.

07/17/2024

Less than a minute

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