Vision Service Plan (VSP) has acquired eyewear manufacturer/distributor Marchon for $735m, creating a combined optical company with projected revenues for this year of $3.3bn.
The acquisition will mean that Marchon will take VSP's Altair eyewear operation under its umbrella.
Marchon, which had total sales in 2007 of $525m and owns the licence to brands such as Calvin Klein and Nike, will become a wholly owned subsidiary of VSP.
VSP will also acquire Marchon's 50 per cent ownership of practice interior designer Eye Designs.
Marchon president and CEO Al Berg and executive vice president Larry Roth, along with the Marchon global team, will continue in their current roles. Berg will report to VSP president and CEO Rob Lynch.
Lynch said: 'Bringing together the world class products and expertise of Marchon with Altair, VSP's for-profit eyewear company, creates an integrated organisation that benefits eye care professionals.'
'Given the rapidly changing eye care market, this is a win for Marchon, VSP and the optical industry,' added Berg.