EssilorLuxottica acquires Heidelberg Engineering and Supreme

EssilorLuxottica has expanded its presence in the medical technology market and the clothing and accessories market with two acquisitions. 

The Italian optical supplier has acquired an 80% stake in German diagnostic equipment and surgical technology company, Heidelberg Engineering. 

EssilorLuxottica has also acquired the Supreme streetwear brand from clothing, footwear and accessories company VF Corporation for $1.5bn.

The acquisition of Heidelberg was expected to complete in the second half of the year and was subject to regulatory approvals, while Supreme’s acquisition would close by the end of 2024. 

EssilorLuxottica said acquiring Heidelberg represented a step forward in the group’s strategy and its med-tech journey, which was focused on fostering long-term growth. 

Christoph Schoess, co-founder and managing director of Heidelberg Engineering, said: ‘We are delighted that EssilorLuxottica, a global leader in eye care, embraces our vision for creating a shared care system spanning from research to home monitoring. Together, we are strongly positioned to significantly advance patient care and improve clinical outcomes.'

Supreme has 17 stores in the US, Asia and Europe and operated a digital-first business, which offered EssilorLuxottica a direct connection to new audiences. 

Francesco Milleri, chair and CEO, and Paul du Saillant, deputy CEO at EssilorLuxottica, said: ‘With its unique brand identity, fully-direct commercial approach and customer experience – a model we will work to preserve – Supreme will have its own space within our house brand portfolio and complement our licensed portfolio as well. They will be well-positioned to leverage our group’s expertise, capabilities, and operating platform.’