Luxottica Buys Sun Lens Maker Barberini

Luxottica Group has acquired Barberini S.p.A., a global leader in optical sun lens manufacturing, for Euro 140 million (almost $164 million U.S.).
With the acquisition, Luxottica consolidates its strategy of focusing on production facilities and “Made in Italy” quality. Barberini glass lenses have been key to the success the iconic models of Ray-Ban and Persol, and an essential component for many luxury eyewear collections. 
“Barberini will allow us to strengthen our technological leadership in sun and ophthalmic lenses and opens great development opportunities for the future," says Leonardo Del Vecchio, executive chairman of Luxottica. 
Founded by Pietro Barberini in 1963, Barberini is a key manufacturer of high-quality optical glass lenses for the most prestigious eyewear brands around the world, with exclusive and sophisticated technical features. The company has developed technologies and patents designed to expand applications of glass in sun and ophthalmic lenses. Advancements have been made to characteristics such as thickness, weight, resistance, and transparency while enhancing vivid and saturated colors.
With annual net sales of approximately Euro 85 million, Barberini controls its entire manufacturing chain, from raw material to finished lenses, with industrial sites in Abruzzo, Italy, a plant in Germany for glass melting, and advanced technologies to produce polarizing films for sun lenses. 
The transaction is subject to customary closing conditions and is expected to be finalized by the third quarter 2018.