By
AFP
Translated by
Nicola Mira
Published
Nov 6, 2023
The LVMH group’s eyewear producer Thélios has signed an agreement to buy US eyewear brand Barton Perreira, whose glasses are popular with film and music stars. The AFP agency learnt about the deal from Thélios, confirming a report by the Wall Street Journal (WSJ).
Thélios told AFP that the agreement had been signed, and that the acquisition will be finalised in the next few weeks. Alessandro Zanardo, CEO of Thélios, told WSJ that the Barton Perreira brand “is well-known and well-established in the USA.” He added that Thélios thinks Barton Perreira has “huge scope for expansion.”
Citing anonymous sources, WSJ said that the operation will value the US eyewear brand, founded in 2007, at approximately $80 million (just shy of approximately €75 million). However, speaking to AFP, Thélios did not wish to comment on this aspect, or on the acquisition’s financial details.
In early September, Thélios bought French eyewear brand Vuarnet from British investment fund NEO Investment Partners. It was the company’s first acquisition, and the value of the transaction was not disclosed.
Thélios was originally a joint-venture company between LVMH and Italian producer Marcolin, before the luxury group took full control at the end of 2021.
Paris, November 5 2023 (AFP)
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