Luxottica buys out Salmoiraghi & Viganò

By

Dominique Muret

Translated by
Nicola Mira

Published
Nov 28, 2016

Luxottica has acquired a 100% stake in Italian optician chain Salmoiraghi & Viganò, after buying the remaining shares held by the Tabacchi family. The Italian eyewear group acquired a 36% stake in the optician chain in November 2012, and has now announced in a press release that "it has exercised its purchasing option for 63.2% of Salmoiraghi & Viganò."

Luxottica indicated that the operation will be finalised during the first quarter 2017, without however disclosing the amount of the latest transaction.

The acquisition falls within the scope of the agreement signed in 2012 with Salmoiraghi & Viganò Holding, via the Fenix company when Luxottica first purchased a share in the retailer through a share capital increase worth €45 million.

The eyewear group founded by Leonardo Del Vecchio owns brands like Ray-Ban and Persol, as well as a rich portfolio of major fashion label licenses, such as Chanel or Armani. By taking full control of the main eyewear retailer in Italy, it has now further boosted its position in Europe.
 
Salmoiraghi & Viganò was created in 1974 through the merger of the long-standing retail chains founded respectively by Angelo Salmoiraghi and Angelo Viganò, and since 2002 has been owned by entrepreneur Dino Tabacchi. The chain is present throughout Italy with 450 stores and generates a revenue of €190 million.