Financial Daily from THE HINDU group of publications
Monday, Jan 16, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 16, 2006 |
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Corporate
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Mergers & Acquisitions Essilor India acquires 50 pc in GKB Rx Lens Our Bureau
Bangalore , Jan.15 ESSILOR India, the wholly-owned subsidiary of the French ophthalmic lens major Essilor International, has acquired 50 per cent stake in GKB Rx Lens Pvt Ltd, an ophthalmic lens processing laboratory and wholesale company. The agreement includes an option to increase Essilor's stake in future. Announcing the acquisition, Mr B. Jayanth, Managing Director, Essilor India, said the partnership will reinforce the company's leadership in the ophthalmic lens market. The company has already acquired three other leading prescription labs in the country to respond to the Indian optical landscape. This multi-channel strategy allows the Essilor group of companies to cater to all segments of the market with its products and services, he said. "Essilor is committed to grow the Indian optical market and provide strong support to the opticians. This investment is one more step in that direction. Essilor India has several business verticals with separate range of products and independent managements. The GKB Rx Labs will be a new addition to our other business verticals and will maintain its independence and continue to serve the Indian opticians with its own range of products," said Mr Jayanth. Mr B.K. Gupta, Chairman, GKB Rx, said "this association with the world's No. 1 spectacle lens company will help us to further service our customers better with our own brands and independent network and will contribute to the faster development of the optical market in India."
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