Hoya buys US lab group in $75.8m deal

The total sale price, including outstanding debt, was not disclosed. Hoya moves from being a supplier of commodity lenses primarily serving North American retail chains, into a supplier of premium lens products and laboratory services, joining Essilor as a manufacturer/owner of wholesale laboratories in the US. The acquisition of the ORI labs is part of a long-term strategy for Hoya to boost its US presence. This plan began a year ago with the establishment of a US wholesale arm, Hoya Lens America. It has a laboratory in Bethel, Connetticut to process its product, and a network of 18 wholesale distributors throughout the US. Executive managing director and president of Hoya's vision care division, Takao Sato, said: 'We're now ready for Hoya to claim a leadership position in the US as we have done in many other countries worldwide.' Hoya has invested &\#163;1m in the UK in the past year and added 70 staff, mainly at the Eyas high index plant in Wrexham, according to business development manager Peter Reeve.