HOYA Vision Care, a division of HOYA Group, has agreed to acquire the safety prescription eyewear business of 3M.
This safety prescription eyewear business is an industry leader with over 90 years' experience in North America and provides HOYA with a comprehensive line of frames, prescription lenses, and premium coating options in a custom-made solution, serviced by a network of eye care professionals.
In addition to its strong North American presence, the business also currently provides safety prescription eyewear or frames in Latin America, Europe and Asia. The acquisition enables HOYA to provide business and industrial customers as well as consumers with a strong global safety prescription eyewear protection solution.
HOYA Vision Care CEO Girts Cimermans said: "HOYA's acquisition of 3M's established safety prescription eyewear business expands our customer reach and entry into an important new optical market segment for HOYA both in the U.S. and globally.
"The business provides HOYA with additional capabilities in safety prescription eyewear while expanding future global opportunities and strengthening the range and services we offer our customers."
HOYA will acquire only the prescription part of 3M's safety eyewear business, employing approximately 140 people, including an optical laboratory facility in Plymouth, Indiana, USA.
"This acquisition offers entry into an as yet untapped market for HOYA, allowing us to further expand our presence in the North American optical market", said Barney Dougher, President of HOYA Vision Care, Americas.
"The safety prescription eyewear business strongly complements HOYA's existing portfolio, offering our customers a broader range of products while continuing to focus on high quality and service."
The transaction is expected to be completed during the first quarter of 2017, subject to customary closing conditions.