Essilor India to acquire 37% stake in GKB Ophthalmics' lens making division
Hotline: 1800 102 2007
X
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
Related opportunities
  • About: Jordan Hill is a welcoming preschool, which offers young children..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • About:Owing to rich experience of setting up and managing military..
    Locations looking for expansion New Delhi
    Establishment year 2006
    Franchising Launch Date 2017
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Quick Service Restaurants
    About Us  WowFillss a brand of  M/s  Search Route is a..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • TV Channel/Network
    About Us:  A golden opportunity to join the most trusted business..
    Locations looking for expansion Uttar pradesh
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Noida Uttar pradesh
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