Essilor targets acquisitions

Lens manufacturer Essilor is setting its sights on new acquisitions and may buy around 15 laboratories in countries such as the UK, US and China according to the company's chief operating officer Philippe Alfroid.

In an interview withbusiness channel Bloomberg, Alfroid said he would consider larger transactions due to Essilor's solid financial situation and available credit lines.Herevealed that the company had as much as €2bn to fund its expansion abroad.

'There are a lot of opportunities out there and we are looking everywhere,' he said, revealing that a list of around 40 potential targets had already been identified. 'We must go slowly and make the right choices in order not to overpay,' the report stated.