Luxottica takes 35% stake in Mazzucchelli

Luxottica has reached an agreement to acquire a minority stake of 35% in Mazzucchelli as part of a collaboration to develop and produce highly sustainable type of acetate.

The eyewear company’s acquisition would finance the development of the project inside the Mazzucchelli production plants that would be accessible to all in the market.

Luxottica and Mazzucchelli said it reinforced their shared commitment to reduce the environmental impact of their activities and increase the offering of high quality and sustainable eyewear.

As the transaction was financial only, no shareholder agreement was signed to appoint a Luxottica director in Mazzucchelli and Orsi Mazzucchelli would continue to manage the company.