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EU Extends EssilorLuxottica, GrandVision Antitrust Probe

 |  February 25, 2020

EU antitrust regulators on Tuesday, February 25, extended their investigation into Ray-Ban maker EssilorLuxottica’s €7.2 billion (US$7.8 billion) bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing.

The European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice for consumers.

According to Reuters, the deal has sparked concerns among retailers and rival lens makers, sources have told Reuters. EssilorLuxottica’s eyewear and retail brands include Oakley, Sunglass Hut, and Spectacle Hut. 

The company was formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica. 

GrandVision’s chains include Vision Express in Britain and For Eyes in the United States and it also sells brands including Varilux lenses and Ray-Ban sunglasses.

Full Content: Reuters

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