Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
Acquisition 2015-05-26

Essilor India to acquire 37% stake in GKB Ophthalmics' lens making division

After making small acquisitions in India for the last few years, Essilor India has acquired lens division of Goa-based ophthalmic manufacturing company GKB Ophthalmics Ltd.

Essilor India to acquire 37% stake in GKB Ophthalmics' lens making division

In a recent business move, Essilor India Pvt Ltd has acquired 36.47 per cent stake in GKB Vision Ltd, the lens division of  Goa-based ophthalmic manufacturing company GKB Ophthalmics Ltd for Rs 22.91 crore ($3.6 million), as per a stock market disclosure.

Incorporated in 2000, GKB Vision manufactures ophthalmiclenses like bifocals lenses, progressive lenses, mineral lenses, organic lenses and glass moulds.

Formerly known as Essilor SRF Optics Pvt Ltd, Essilor India  is the subsidiary of world’s largest ophthalmic lens maker Essilor International SA, designs and manufactures a wide range of lenses.

The firm's flagship brands are Varilux, Crizal, Definity, Xperio and Foster Grant. It also has several research and development centres around the world.

The company began its operations in India in 1998 as a joint venture with SRF. In 2006, it bought out its local partner in the venture.

The deal comes after almost two years after it acquired a majority stake in Surat-based Deepak Optic.

In the past Essilor has also acquired assets such as Lens and Spects, Kolkata-based GKB Rx Lens Pvt Ltd and Hyderabad-based 20 20 Rx Processing.

GKB Ophthalmics offers finished or semi-finished mineral lenses, semi-finished organic lenses and bifocal glass moulds and exports its products to many countries. Its other subsidiaries include Prime Lens Pvt Ltd, GKB Ophthalmic Products FZE, UAE and Lensco, NJ, USA.

Its shares closed at Rs 54.60 each, up 6.54 per cent on BSE in a weak Mumbai market on Monday.

Comment
image
image
image
image
Related opportunities
  • Quick Service Restaurants
    About Us: The Khoune Pizza franchise model is a unique, one-of-its-kind..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required 60
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Food Service
    About Us: Established in the year 2001,  Kakal Kai Ruchi is..
    Locations looking for expansion Karnataka
    Establishment year 2001
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Tea and Coffee Chain
    About Us: Tea Live is a home grown Malaysian brand with..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Seebhal Mikelin Distilleries Pvt Ltd  Seebhal Mikelin Distillery is a Company..
    Locations looking for expansion Goa
    Establishment year 1996
    Franchising Launch Date 2015
    Investment size
    Space required 100
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater goa Goa
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts