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Investing.com -- French luxury group Kering (EPA:PRTP) has announced the acquisition of Italian company Lenti, in a move aimed at expanding its eyewear business. The financial details of the deal were not disclosed.
The purchase allows Kering to establish in-house capabilities for the creation of Made in Italy sun lenses, as stated by the company on Tuesday. This acquisition is part of Kering’s broader industrial development strategy for its eyewear division.
Lenti, a company specializing in molding and surface treatments, has been a part of the Safilo Group (BIT:SFLG), with a 2.44% increase, since 1996. The firm, which employs around 100 people, is headquartered in Italy. Its product range includes sun lenses for eyewear, visors, and other protective components used in lighting, automotive, and motorcycle industries.
The acquisition of Lenti follows Kering’s recent agreements with two Italian eyewear manufacturers. The luxury group previously agreed to purchase Visard and take a stake in Mistral, marking a significant expansion of its eyewear division.
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