Optical retailing giants in merger talks

17 Jun 2002

Israel-based Pro-Laser and Briot International of France prepare to merge operations.

Briot International's Belgian holding company, Buchmann Optical Holding (BOH), has signed a Letter of Intent to buy a majority stake in Pro-Laser in exchange for 51% of the shares of Briot International and an additional investment of Euro 2.5 million. Negotiations are due to close by 30 June 2001, at which point BOH intends to merge Pro-Laser with Briot to form what it hopes will be the world leader in technology solutions for the optical retail market.

A spokesperson for Pro-Laser and BOH said that both companies are confident that the agreement will allow Pro-Laser and Briot to "enter a new stage in their growth and profitability, to benefit all shareholders".

The main field of business for Pro-Laser and Briot is manufacturing instruments and equipment for lens manufacturers, optical laboratories, opticians and optometrists. The companies also focus on diagnostic instrumentation for ophthalmologists and laser-based instruments for refractive surgery.