EssilorLuxottica to buy Supreme and Heidelberg Engineering

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.

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.