CHARENTON-LE-PONT, France—Essilor International announced today that its U.S. subsidiary, EOA Holding Co., has signed a share purchase agreement to acquire ophthalmic lens maker Signet Armorlite. The acquisition is subject to regulatory approval in Signet Armorlite’s main host countries and is expected to be completed in the first half of the year, according to Essilor.

Signet Armorlite is owned by a private investment group.

Headquartered in San Marcos, Calif., Signet Armorlite has revenues of over $130 million, approximately 900 employees, one manufacturing plant in Mexico, four prescription laboratories in the U.S. and Europe, and three distribution centers in Canada, Portugal and the Netherlands.

Signet Armorlite specializes in entry-level and mid-range products for independent eyecare professionals and integrated retailers. It manufactures lenses under the Kodak brand, for which it is the exclusive licensed manufacturer and distributor.

“The deal will strengthen our position in what we consider the medium range and value tier of the progressive lens marketplace,” John Carrier, president of Essilor of America, told VMail. “The business will continue as it is today, an independent company with its current management continuing in their roles, including [president] Bruno Salvadori.

“Kodak is a very strong brand, it has been developed well by Signet in some countries internationally, but we feel that we can bring our significant R&D capabilities into the mix and Essilor’s global presence to enhance its position worldwide,” Carrier added.

Signet Armorlite was formed in 1983 through the merger of Armorlite, founded in 1947 in Burbank, Calif., and Signet Uptown, which began as a wholesale lab in San Diego, Calif. in 1960. Beginning in 1947, the company pioneered plastic lens casting in North America.

In addition to holding the exclusive license to distribute Kodak lenses worldwide, Signet Armorlite is an authorized distributor of 3M adhesive optical supply products in the U.S.