De Rigo Vision S.P.A., has signed an agreement to acquire the full ownership of Rodenstock’s Eyewear division, with the transaction to be completed towards the end of the second quarter of 2023.
The acquisition is part of the family-owned eyewear company’s strategic plan to further drive its international expansion and growth in the premium eyewear segment.
“I am proud to announce this agreement with Rodenstock, with whom we share the values of operational excellence and a client and people centric business: the keys to our companies’ success,” said Maurizio Dessolis, Executive Vice Chairman of De Rigo Vision.
“We are delighted to complement our portfolio of premium products with the prestigious Rodenstock brands, building a new champion in the eyewear business. We are confident that building on our global platform and network we will be able to support the continued growth of the business and its brands.”
The Rodenstock Group has earned a reputation as an innovator in the global eye health space and as a manufacturer of biometric, ophthalmic lenses.
The company’s management said the decision to sell is a strategic one that marks a major step on its journey towards becoming ‘a leading Med-Tech company in vision care’.
“With De Rigo, we have found a buyer that will ensure business continuity for our eyewear business, and we look forward to our continued collaboration,” said Anders Hedegaard, CEO of Rodenstock.
“Due to their great deal of know-how in the frames business and excellent access to international markets De Rigo is ideally positioned to further drive the development of the eyewear business and strengthen its brands Rodenstock Eyewear and Porsche Design Eyewear.”
Integrating the Rodenstock Eyewear division into the De Rigo business will help to reinforce the Group’s distribution platform in Central Europe (in the German market in particular), which presents ‘strong growth opportunities’ for De Rigo.
It will also serve to ‘strengthen the sales network through additional resources, expertise and an extensive network in Germany as well as in international markets’ says De Rigo.
The acquisition includes the Rodenstock Eyewear and Porsche Design Eyewear brands, which will complement De Rigo’s existing product portfolio.
The news marks the next chapter of continued collaboration between the companies, which are long-standing partners.
Both parties are working to ensure a ‘smooth transition and business continuity for employees, customers, and business partners’.