Bushnell signed a definitive agreement to acquire Ultroptic S.A of Barcelona, Spain via the Bushnell wholly-owned subsidiary Bushnell Outdoor Products SAS. Ultroptics is currently a Bushnell distributor and handles the full line of Bollé and Serengeti eyewear. The terms of the purchase agreement were not disclosed.
Olivier Ciaravino, VP and managing director of Bushnell Outdoor Products SAS, said, “Ultroptics has done an excellent job of establishing Bollé and Serengeti product lines through their own efforts in Spain. As a wholly-owned subsidiary of Bushnell, they will have even greater resources and capabilities to market, promote and expand these product lines.”
David Basto, a managing director at MidOcean Partners, stated, “Our Bushnell European subsidiary has enjoyed steady growth in sales and market share and we plan to continue investing in that region to further support their efforts. The acquisition of Ultropic will strengthen our sales, marketing and distribution in that market and result in better overall customer service.”