Cooper to acquire Sauflon for $1.2bn

The Cooper Companies has agreed to acquire UK contact lens firm Sauflon for around $1.2bn.

It said Sauflon was forecasted revenue of approximately $210m for its financial year ending October 31, up approximately 22% year-over-year.

The transaction, subject to regulatory approval, was anticipated to close prior to fiscal year end, and expected to be accretive to earnings per share in fiscal 2015. The acquisition will be financed with off-shore cash and credit facilities, a statement added.

Robert Weiss, Cooper’s president and chief executive officer, said: ‘We are extremely pleased to announce this acquisition which gives CooperVision the world’s most comprehensive portfolio of daily disposable lenses.