CHARENTON-LE-PONT, France, and MINNEAPOLIS, Minnesota—EssilorLuxottica announced yesterday the closing of its acquisition of Walman, the largest independent eyecare company in the U.S. The terms of the transaction were not disclosed. First announced in March 2021, the acquisition will “draw on EssilorLuxottica’s focus on product and service innovation to create growth opportunities for Walman Optical labs to partner to vision care practices around the country,” the companies said in a joint statement. Walman, a top wholesale distributor of Essilor lenses in the U.S., has been a leading supplier to vision care practices around the country since its founding in 1915.

Headquartered in Minneapolis, the diversified company operates 35 facilities across the U.S. including Walman Optical, the nation’s largest network of wholesale prescription labs. Other companies within the Walman portfolio include Walman Instruments, X-Cel Specialty Contacts, ImageWear, ADO Practice Solutions and Ultra Optics. Walman generated combined revenue of approximately $500 million in 2020, according to the March, 2021 announcement from EssilorLuxottica and Walman. The company had previously been employee-owned.