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VSP Vision agrees to acquire PAI-backed eyewear firm Marcolin
VSP Vision, the US owner of Marchon Eyewear, agreed to acquire rival Italian eyewear manufacturer Marcolin SpA.
Private equity firm PAI Partners and other minority shareholders have agreed to sell Marcolin to Vision, according to a statement Friday that confirmed an earlier Bloomberg News report. It didn’t provide financial terms
PAI had been seeking a valuation of more than €1 billion ($1.2 billion) for the business, people with knowledge of the matter said earlier
Marcolin is based in the northeastern Italian town of Longarone, in the country’s eyewear region near the Dolomites. The company designs, manufactures and sells frames for brands such as Tom Ford and Guess. Marcolin, which has about 2,000 employees globally, earned most of its revenue from overseas through licensing partnerships with global fashion houses
The deal highlights how Italy continues to be a world leader in the manufacturing of luxury eyewear. The industry is dominated by Franco-Italian heavyweight EssilorLuxottica SA, which owns brands like Ray-Ban and Oakley, alongside independent makers and fashion-label licensees
The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals. Marcolin expects its €350 million of 6.125 % senior secured notes due 2026 to be redeemed around the time of closing at a price equal to the full principal amount plus unpaid interest, according to Friday’s statement
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