Lens group Shamir has announced the acquisition of a minority of Lenstec shares in the UK for an undisclosed amount.
Both companies stood to gain operational synergies while integrating their UK-based service network with Lenstec Nationwide Rx laboratories, a statement said.
Sales, production and marketing teams were to remain separate under the deal and Lenstec continued to offer its full portfolio of branded lenses and own label products.
Phil Bareham, general manager of Shamir UK (pictured bottom row centre), said: ‘The acquisition provides Lenstec access to the full portfolio of Shamir premium products and services, thereby enhancing its already wide-ranging choice of technology, products and services to the UK ECP.
‘We look forward to continuation and expansion of our business cooperation with our valued customers in the UK.’
Shamir Optical itself is 50% owned by French optical giant Essilor.
Signing the deal overlooking Cambridge were (left to right seated) Nigel Castle, managing director of Lenstec, Phil Bareham, general manager of Shamir UK Lior Regev, CFO Shamir international (left to right standing) Gerard Donovan, financial director of Lenstec, Shai Michael, VP Shamir international and Yair Di Segni, general counsel Shamir international.