FGX International Holdings Limited, which makes sunglasses under the Anarchy, Gargoyles, Ironman, C9 by Champion and Body Glove trademarks, announced that it has completed its merger with a subsidiary of Essilor International (Essilor) of Charenton-le-Pont, France.
FGX International shareholders received $19.75 per share in cash, for an aggregate value of approximately $575 million, including the repayment of FGX International debt of approximately $115 million. Upon completion of the merger, FGX International became a wholly-owned subsidiary of Essilor and its shares ceased to be publicly traded on the NASDAQ Global Select Market. Following the merger, FGX International will change its place of incorporation from the British Virgin Islands to the State of Delaware.
We are excited to be a part of Essilor and look forward to doing great things together, said Alec Taylor, FGX Internationals Chief Executive Officer.
The world leader in ophthalmic optical products, Essilor International researches, develops, manufactures and markets around the world a wide range of lenses to correct myopia, hyperopia, presbyopia and astigmatism. Its flagship brands are Varilux®, Crizal®, Essilor®, Definity® and Xperio. Based in France, the company reported consolidated revenue of €3.2 billion in 2009, with 34,700 employees and operations in 100 countries. Essilor share trades on the NYSE Euronext Paris market and is included in the CAC 40 index.
Based in Smithfield, Rhode Island, FGX International has approximately 500 full-time employees.
