Hoya Vision Care to Acquire Safety Prescription Eyewear Business from 3M

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UITHOORN, The Netherlands—In a move that will provide the company with access to an important new market, Hoya Vision Care, a division of Hoya Corp. (TOKYO:7741) has announced a definitive agreement to acquire the safety prescription eyewear business of 3M (NYSE:MMM).

3M’s 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, Hoya noted.

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, the company 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,” said Girts Cimermans, CEO of Hoya Vision Care. “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, Ind.

“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.

In its statement about the deal, 3M said it will retain its safety non-prescription or plano eyewear business. “After a thorough strategic review, we have decided to exit the safety prescription eyewear business to focus on our core personal safety businesses,” said Bernard Cicut, vice president and general manager, Personal Safety Division. 3M is a global leader in personal safety solutions, including respiratory protection, fall protection, hearing protection, and plano (non-prescription) eye protection

Japan-based Hoya Corp. is a global technology and med-tech company, with over 150 offices and subsidiaries worldwide. It is active in the fields of healthcare and information technology providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as key components for semiconductor devices, LCD panels and HDDs. For over 60 years, Hoya Vision Care has been a global leader in the eyeglass lens business. With a presence in over 50 countries, Hoya Vision Care’s portfolio includes Seiko and Pentax optical lenses as well as such products as Hoyalux MyStyle progressive lenses and Yuniku 3D Tailored Eyewear. The company employs over 16,000 employees worldwide with mass production facilities in Asia and Europe and over 40 local Rx laboratories globally.