Updated March 9th, 2024 at 20:34 IST

Gucci, Ray-Ban parent companies in race to acquire Italian eyewear maker Marcolin: Report

Marcolin, known for producing eyewear for brands like Tom Ford, has been exploring strategic options, including a possible merger or sale.

Reported by: Business Desk
Kering and EssilorLuxottica bidding | Image:Unsplash
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Marcolin acquisition news: Luxury conglomerate Kering, renowned for its ownership of brands like Gucci, and eyewear giant EssilorLuxottica, parent company of Ray-Ban, have emerged as potential suitors for Italian eyewear manufacturer Marcolin, according to a report by the Financial Times.

The report indicates that Marchon, a New York-based eyewear manufacturer, has also shown interest in Marcolin.

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Marcolin, known for producing eyewear for brands like Tom Ford, has been exploring strategic options, including a possible merger or sale. Last month, Reuters reported that top executives at Marcolin have been engaging with potential suitors as they work towards preparing the company for such a move, renewing key licensing agreements along the way.

Owned by private equity firm PAI Partners since 2012, Marcolin is said to be seeking a valuation of approximately €1.3 billion ($1.4 billion) for the company, the FT report cited sources familiar with the matter.

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Goldman Sachs has been enlisted by PAI Partners to advise on the sale process, signaling the seriousness of the potential deal.

According to the report, EssilorLuxottica would be the most compatible buyer for Marcolin. Conversely, Milan-listed Safilo reportedly views Marcolin as an "opportunistic add-on" and is considered the least likely buyer among the potential suitors.

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Marcolin, headquartered in Italy's eyewear manufacturing hub in the northeast region of the country, posted a 3 per cent increase in revenue, reaching €422 million in the first nine months of last year. Additionally, its adjusted core profit surged by 28 per cent, totaling €65 million.

(With Reuters inputs.)

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Published March 9th, 2024 at 20:34 IST