Luxottica, Essilor merger gets FTC approval, companies say
Luxottica of Port Washington, seen on Dec. 6, 2011, makes Ray-Ban and Oakley glasses, and operates the LensCrafters, Sunglass Hut and Pearle Vision retail chains. Credit: Newsday / J. Conrad Williams Jr.
The proposed merger of optical manufacturers Essilor and Luxottica has been approved by the Federal Trade Commission without conditions, the companies said Thursday.
Luxottica, with its headquarters in Milan, Italy, has its U.S. base in Port Washington, where about 180 people work.
The U.S. antitrust approval of the Essilor-Luxottica deal follows approvals by the European Union, Canada, Australia, India, Japan and nine other countries.
The $49 billion transaction is expected to close by June 30.
Luxottica manufactures Ray-Ban and Oakley glasses, and operates the LensCrafters, Sunglass Hut and Pearle Vision retailing chains. Essilor, which is based in France, makes lenses.
James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.
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Out East Show: Westhampton Beach Brew & Grille, Hallockville Museum Farm Bees, North Fork Foodie Tour, Southampton Animal Shelter Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
