EssilorLuxottica has entered into an agreement to acquire US-based lab network, Walman.
Established more than a century ago, Walman has a network of 35 facilities across the US, including prescription lens-finishing labs and hubs for optical instruments and other vision care products. As part of EssilorLuxottica, Walman will continue to serve the market under the Walman brand.
“Walman is a company we’ve admired as a longtime partner; they share EssilorLuxottica’s customer first sensibility and our relentless pursuit of higher service standards. They also share our history of employee shareholding, which makes them an ideal cultural fit for our family. Walman has cultivated broad recognition and relationship equity and we will invest in the areas that make them such a great partner to the industry,” commented Francesco Milleri and Paul du Saillant, respectively CEO and deputy CEO of EssilorLuxottica.
“EssilorLuxottica’s investment in Walman is an important next step for our customers and employees,” said Marty Bassett, president and CEO of Walman. “It was time for Walman to find an investment partner to support its future success. We chose EssilorLuxottica because of our shared values and their proven history of working with independent businesses to accelerate growth while supporting the entrepreneurial spirit and company culture that made each business successful in the first place.”
The transaction is expected to close in the coming months pending regulatory approvals and other customary closing conditions.