Marcolin swoops for Viva International

Italian optical group Marcolin has snapped up rival company Viva International for an undisclosed amount.

It has signed a stock purchase agreement to acquire Viva, which produces optical brands including Gant, Guess and Skechers, subject to conditions. The deal was expected to become effective in the next few months.

The company and its affiliates, backed by European private equity firm PAI Partners, will purchase Viva from its parent company HVHC.

Marcolin said it brought ‘a rich history and a strong financial background’ to the merger, with approximately $282m in sales last year, adding that the combined businesses would be positioned to offer customers differentiated value.