REM’s Mike Hundert (l) and De Rigo Vision’s Massimo De Rigo.
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LONGARONE, Italy—De Rigo Vision, a part of the De Rigo Group S.p.A. a leading maker and distributor of quality eyewear, has signed an agreement to purchase complete ownership of REM Eyewear of Los Angeles, one of the largest eyewear distributors in the American market.

The value of the transaction was not disclosed. But the deal, part of De Rigo Vision’s strategic plan for further international expansion, will reinforce the group’s distribution in the U.S. and create what will become the fourth largest provider of eyewear in the world, with total revenues in excess of $500 million.

Stated Ennio De Rigo, De Rigo Group founder, “I'm proud to announce this agreement with REM, with whom we share the attitude of a family-run business: one of the keys to our companies' success. The union of the enterprising spirit of Mike Hundert and Donna Gindy’s company with our group will strengthen De Rigo Vision's global distribution system."

Commenting on the takeover, REM’s Chairman Gerry Hundert, now 90 years old, said, “The alliance between REM and De Rigo Vision crowns 45 years of hard work, guaranteeing the future of our company and the professional development of our employees in the cultural context of a family-run company that has always characterized our way of doing things.”

Mike Hundert, REM Eyewear’s CEO, told VMail, “This is indeed a great ‘win’ for both of our companies. These are two, multi-generational family businesses coming together. We share common family values, both focused on people, from employees to customers.” He added, “This alliance will allow REM to boost its presence on the American market thanks to De Rigo Vision's vast brand portfolio.”

Hundert and Gindy, REM’s COO, along with the company’s present leadership, including Steve Horowitz, president and Keith Kamalich, vice president, will continue to lead this new company, to be called De Rigo REM.

Founded in 1953 by Efraim Remba, REM Eyewear was purchased by Gerry and Shirley Hundert in 1971. Based in Los Angeles, the company now sells frames and sunglasses under the Converse, John Varvatos, Lucky Brand, Jones New York, Jonathan Adler, Cosmopolitan, TUMI, and Spine brands.

De Rigo is a world leader in the design, production and distribution of high-end eyewear and sunwear. The Group is one of the most important actors in the optical retail business with its own chains, General Optica (Spain), Mais Optica (Portugal) and Opmar Optik (Turkey), and with its subsidiary, Boots Opticians (UK). Thanks to the extensive wholesale network managed by De Rigo, the Group's products are distributed in approximately 80 countries, mainly in Europe, Asia and the Americas, through 15 companies and over 100 independent distributors. The Group is active in all the major markets of the world with its own brands Lozza, Police, Sting and Lozza Sartoriale and with the licences Blumarine, Blugirl, Carolina Herrera New York, CH Carolina Herrera, Chopard, dunhill, Escada, Fila, Furla, Lanvin, Loewe, MilleMiglia, Momodesign, Nina Ricci, Tous, Trussardi, Victor Higo, Zadig&Voltaire.