Rancho Cordova-based VSP Vision Care bought eyewear manufacturer Marchon Eyewear Inc. today in a deal that combines the nation's largest eyecare benefits provider with one of the world's largest manufacturers of designer eyewear.
The cash-and-debt deal worth $735 million creates a $3.3 billion company that substantially adds to VSP Vision Care's designer portfolio.
One of every six Americans receives eyecare insurance from the benefits giant. VSP Vision Care posted $2.6 billion in revenue in 2007.
Marchon makes and sells eyewear and sunwear for labels including Calvin Klein, Coach, Karl Lagerfeld and Sean John, posting more than $525 million in sales in 2007.
VSP already manufactures eyewear for Tommy Bahama, Joseph Abboud and Revlon through its for-profit Altair Eyewear company also based in Rancho Cordova.
Marchon's management will stay in place and its offices will remain in New York. Altair becomes a division of Marchon and will remain in Rancho Cordova, officials said.
Call The Bee's Darrell Smith, (916) 321-1040.
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