M&A Deal Summary

Luxottica Group Acquires Cole National

On October 1, 2004, Luxottica Group acquired retailer Cole National for 401M USD

Acquisition Highlights
  • This is Luxottica Group’s 3rd transaction in the Retail sector.
  • This is Luxottica Group’s 5th largest (disclosed) transaction.
  • This is Luxottica Group’s 4th transaction in the United States.
  • This is Luxottica Group’s 3rd transaction in Ohio.

M&A Deal Summary
Date 2004-10-01
Target Cole National
Sector Retail
Buyer(s) Luxottica Group
Deal Type Add-on Acquisition
Deal Value 401M USD
Advisor(s) Lehman Brothers, Inc. (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Cole National

Mason, Ohio, United States
Pearle Vision store in Duluth, Minnesota.
Pearle Vision store in Duluth, Minnesota.
Cole National Corporation's vision business, together with Pearle franchisees, has 2,197 locations in the U.S., Canada, Puerto Rico and the Virgin Islands and includes Cole Managed Vision, one of the largest managed vision care benefit providers with multiple provider panels and nearly 20,000 practitioners. Cole's personalized gift business, Things Remembered, serves customers through 728 locations nationwide, catalogs, and the Internet at www.thingsremembered.com. Cole also has a 21% interest in Pearle Europe, which has 1,480 optical stores in Austria, Belgium, Denmark, Estonia, Finland, Germany, Italy, Kuwait, Norway, the Netherlands, Poland, Portugal, Russia and Sweden.

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Buyer(S) 1

Buyer

Luxottica Group

Milan, Italy
Category Company
Founded 1961
Sector Consumer Products
Employees79,000
Revenue 8.8B EUR (2015)
DESCRIPTION
Luxottica's North American headquarters in Mason, Ohio.
Luxottica's North American headquarters in Mason, Ohio.

Luxottica is a global producer, distributor, and retailer of sun and prescription eyewear. Luxottica Group S.p.A. was formed in 1961 and is based in Milan, Italy.

DEAL STATS #
Overall 5 of 13
Sector (Retail) 3 of 6
Type (Add-on Acquisition) 4 of 10
State (Ohio) 3 of 3
Country (United States) 4 of 5
Year (2004) 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-02-22 Sunglass Hut International

Mason, Ohio, United States

Sunglass Hut is a retailer of sunglasses and sunglass accessories. The Company was formed in 1971 and is based in Mason, Ohio.

Buy $462M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-29 Things Remembered

Highland Heights, Ohio, United States

Things Remembered is a personalized gift chain providing solutions for all gift-giving occasions through more than 650 stores across the U.S. and through its catalogs and website. The Company specializes in personalizing gifts through its engraving and monogramming technology.

Sell $200M
Mergr

Product

Company

Legal