EssilorLuxottica and VF Corporation have entered into a definitive agreement to acquire the EssilorLuxottica brand Supreme from VF for 1.5 billion in cash. This is stated in the EssilorLuxottica message.
The transaction is expected to be completed by the end of fiscal year 2024, subject to the usual closing conditions and regulatory approval.
J.P. Morgan and Latham and Watkins act as exclusive financial and legal advisors to EssilorLuxottica on the transaction, respectively. Goldman Sachs & Co. LLC acts as the lead financial advisor, UBS investment bank acts as the financial advisor to VF. Davis Polk & Wardwell LLP is acting as a legal advisor to VF.
EssilorLuxottica is a French company, one of the world's largest manufacturers of corrective and sunglasses, in particular, under the Ray-Ban and Oakley brands. It was formed in 2018 by the merger of French Essilor and Italian Luxottica. The company's headquarters are located in Charenton-les-Ponts, France.
The Supreme brand operates a digital business and has 17 stores in the USA, Asia and Europe.
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