Shamir sells remaining stake to EssilorLuxottica

EssilorLuxottica is reported to have acquired the remaining 50% stake in Shamir to take full ownership of the Israeli lens manufacturer.

A report in the Israel-based Globes website said it had sight of a letter sent to practices that outlined the details of the acquisition, describing it as an ‘amazing milestone for Shamir optics.’

The letter went on to say the company could now leverage complementary distribution networks, brands, products and solutions. It concluded there would initially be no changes to routine activities and procedures.

Prior to the merger with Luxottica, Essilor acquired 50% of Shamir in 2011, with 37% coming from the company directly and 13% from public shares.