Vitale & Co. assisted the shareholders of Barberini S.p.A., the world’s leading optical glass sun lens manufacturer, in the disposal of the shares of the company to Luxottica Group (MTA: LUX), the worldwide leader in the design, manufacture and distribution of fashion, luxury and sports eyewear.
With this transaction, that is valued at approximately Euro 140 million, Luxottica consolidates its strategy of focusing on excellent production facilities and “made in Italy” quality. The transaction allows the Group to strengthen its know-how in glass sun and prescription lenses, which is considered the most valuable among optical materials. Barberini is in fact synonymous with world excellence in glass lenses, key to the success over time of the iconic models of Ray-Ban and Persol and an essential component for many luxury eyewear collections.
Founded by Pietro Barberini in 1963, Barberini is a key manufacturer of high quality optical glass lenses for the most prestigious eyewear brands around the world, with exclusive and sophisticated technical features. For more than fifty years, the company has developed new technologies and patents designed to expand applications of this material, which is unique for purity and clarity, in sun and ophthalmic lenses. Advancements have been made to characteristics such as thickness, weight, resistance and transparency while enhancing vivid and saturated colors, also thanks to the application in the glass melting processes of special oxides (“Terre Rare”).
With annual net sales of approximately Euro 85 million, Barberini controls its entire manufacturing chain, from raw material to finished lenses, with cutting-edge industrial sites in Abruzzo (Italy), a plant in Germany for glass melting, and advanced technologies for the production of polarizing films for sun lenses.
The transaction is subject to customary closing conditions and is expected to be finalized by the third quarter 2018.
Leonardo Del Vecchio, Executive Chairman of Luxottica, commented
"Luxottica welcomes to its industrial system worldwide excellence in the production of optical glass lenses. With the acquisition of Barberini we add another gem to our brands, a name that is well known throughout the industry and synonymous with top quality, innovation and ‘made in Italy’. Barberini will allow us to strengthen our technological leadership in sun and ophthalmic lenses and opens great development opportunities for the future."