Essilor acquires controlling stake in Transitions Optical joint venture with PPG for $1.7 billion

Client(s) Essilor International

Jones Day advised Essilor International SA in its $1.7 billion buyout of a 51 percent interest in Transitions Optical group from joint venture partner PPG Industries. Essilor now owns 100 percent of Transitions.

Essilor, the world's leading ophthalmic optics company, designs, manufactures, and markets a wide range of lenses to improve and protect eyesight. Transitions Optical is a leading provider of photochromic lenses to optical manufacturers worldwide. The transaction also includes the acquisition of Intercast, a leading supplier of sun lenses, and significant new commercial contracts among Essilor, PPG, and Transitions.

In addition to M&A representation, Jones Day provided tax, antitrust, intellectual property, and employee benefits advice regarding this transaction.