FGX International acquires Canadian eyewear company
COURTESY SUNTECH OPTICS INC.
FGX INTERNATIONAL, a wholly owned subsidiary of French eyewear manufacturer Essilor International, has acquired Suntech Optics Inc. and its subsidiaries, Naked Eye Enterprises and Bugaboos Eyewear Corp., in an effort to strengthen FGX's position in the North American market.
SMITHFIELD – FGX International announced Monday it has acquired Suntech Optics Inc., a privately held company based in Vancouver, British Columbia. The acquisition also included the purchase of Suntech Optics subsidiaries Naked Eye Enterprises and Bugaboos Eyewear Corp.
The Suntech Optics line of sunglasses and reading glasses includes brands such as Infokus and Solair, and the company’s retail distributors include more than 2,800 locations throughout Canada. Bugaboos Eyewear Corp.’s Ryders Eyewear brand of performance glasses are sold at more than 1,800 retail outlets in North America, South America and Europe.
“The Suntech acquisition strengthens our position as the leading non-prescription sunglasses and over-the-counter reading glasses company, and is a key strategic business accomplishment to solidify our position in the North American market,” said FGX International CEO César Melo, commenting on the acquisition.
FGX International, a wholly owned subsidiary of French eyewear manufacturer Essilor International, comprises the Foster Grant, Sight Station, Magnivision, Solar Shield, Gargoyles, PolarEyes, Corinne McCormack and Anarchy eyewear brands.
“We are stoked!” said Brent Martin, CEO for the combined Suntech/Bugaboos companies. “With the deep pool of talent and resources of FGX and Essilor we are now in a strong position to take these brands global.”
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