Knecht & Müller is involved in the production of individual prescription lenses. It offers spectacle wearers with products that are customised, modern and optically accurate.

The acquired business will allow Hoya to expand its operations in the DACH region, including Germany, Austria and Switzerland.

Hoy already carries out operations in the DACH region with locations in Brunn am Gebirge (Hoya Lens Austria) and Mönchengladbach (HOYA Lens Germany).

Knecht & Müller current chairman Dr Peter Müller said: "In Hoya we found a stable, trustworthy partner who will continue our work and philosophy, and ensure our employees a successful, sustainable future."

Once the deal concludes, Hoya Lens Germany general manager Oliver Fischbach will assume the responsibilities of Müller.

Fischbach said: "I am looking forward to working with the Knecht & Müller team. We will produce and distribute Hoya and Knecht & Müller-branded high-tech lenses made in Stein am Rhein in both Switzerland and international markets."

Established in 1941, Hoya develops and markets eyeglasses, medical endoscopes, intraocular lenses, optical lenses, as well as key components for semiconductor devices, LCD panels and HDDs.