FGX International Inc. Acquires Suntech Optics Inc.

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SMITHFIELD, R.I.— FGX International, a wholly-owned subsidiary of Essilor International (ESSI.PA), has announced that it has completed the acquisition of Suntech Optics Inc., a privately held company headquartered in Vancouver, British Columbia. This acquisition also included the purchase of Naked Eye Enterprises and Bugaboos Eyewear Corporation. The terms of the deal were not disclosed.

“The Suntech acquisition strengthens our position as the leading non-prescription sunglasses and over-the-counter reading glasses company, and is a key strategic business accomplishment to solidify our position in the North American market,” said Cesar Melo, CEO of FGX International.

Suntech, a company with a 41-year history, is primarily engaged in the sale of sunglasses and reading glasses under proprietary brands including Infokus and Solair. Suntech’s base business is comprised of retailers in the drug, grocery and mass channels of distribution. Suntech has distribution in over 2,800 retail outlets throughout Canada.

“With the deep pool of talent and resources of FGX and Essilor we are now in a strong position to take these brands global,” added Brent Martin, CEO for the combined Suntech/Bugaboos companies. “What sealed the deal for me is the FGX/Essilor commitment to making a difference in the world, something that mirrors my values.”

Established 29 years ago to target the sport channel, Bugaboos Eyewear Corp. is the founder, owner and designer of Ryders Eyewear, an internationally recognized brand in the performance eyewear category, currently serving over 1,800 retailer locations in North America, South America and Europe.

FGX International’s eyewear brands include Foster Grant, Gargoyles, Solar Shield, Magnivision, Corinne McCormack and Anarchy and licensed brands including Ironman, Dockers, Nine West, Body Glove and Disney.