March 25, 2021 — EssilorLuxottica has entered into an agreement to acquire U.S.-based lab network Walman, which has 35 facilities across the U.S., including prescription lens-finishing labs and hubs for optical instruments and other vision care products.

“Walman is a company we’ve admired as a longtime partner. They share EssilorLuxottica’s customer-first sensibility and our relentless pursuit of higher service standards,” shares Francesco Milleri, EssilorLuxottica CEO, and Paul du Saillant, deputy CEO in a statement. “They also share our history of employee shareholding, which makes them an ideal cultural fit for our family. Walman has cultivated broad recognition and relationship equity and we will invest in the areas that make them such a great partner to the industry.”

EssilorLuxottica has shared that its investment in Walman will allow for further opportunities in the progressive lens and anti-reflective categories, in addition to developing myopia management solutions. As part of EssilorLuxottica, Walman will continue to serve the market under the Walman brand.

“EssilorLuxottica’s investment in Walman is an important next step for our customers and employees,” says Marty Bassett, president and CEO of Walman. “It was time for Walman to find an investment partner to support its future success. We chose EssilorLuxottica because of our shared values and their proven history of working with independent businesses to accelerate growth while supporting the entrepreneurial spirit and company culture that made each business successful in the first place.” 

"The Walman agreement is a defining moment in our strategy of building lab offerings that celebrates customer choice through differentiated service and offerings,” says Rick Gadd, president of Essilor North America. “Because of Walman’s reputation as a reliable and highly valued business partner for the customers they serve, we will offer more choice and a more complete local lab footprint within our lab network to ensure customers have the option that meets their specific business need.”

The transaction is expected to close in the coming months pending regulatory approvals and closing conditions.