EssilorLuxottica (EU:EL) has taken over Faro, an Italian firm focused on high-precision CNC machinery used in the production of eyewear frames and lenses, reinforcing its vertically integrated business model.
The Italian-French eyewear group did not disclose the financial terms of the transaction.
Faro, headquartered in Santa Maria di Sala near Venice, brings more than two decades of experience in developing, producing, and supplying hardware and software solutions for both the eyewear and jewelry sectors.
EssilorLuxottica said the acquisition “will allow us to further expand our portfolio of manufacturing expertise and capabilities and accelerate the development of innovative machines for the production of frames and lenses for the entire industry.”
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