Essilor Acquires Katz & Klein and VIP Optical

By
CHARENTON-LE-PONT, France— Essilor International (Reuters: ESSI.PA) announced yesterday in its quarterly financial results that it has acquired two U.S. wholesale optical laboratories, Katz & Klein and VIP Optical.

Katz & Klein, located in Sacramento, Calif., generates annual revenue of around $4.0 million, according to Essilor. The lab, which was founded in 1937 by Harry Katz and Russell Klein, was owned by Mike Francesconi and Corrine Hood. Hood, who served as president of the lab, has retired, and Francesconi remains as vice president.

VIP Optical, located in Linden, N.J., was under private ownership. The lab generates annual revenue of $3.9 million, Essilor said.

Details of the transactions were not announced.The two lab acquisitions follow Essilor’s recent purchase of Classic Optical in Youngstown, Ohio, which was previously reported in VMail.