26 March 2021
The EC clears EssilorLuxottica/GrandVision, subject to conditions
The European Commission has conditionally approved EssilorLuxottica’s acquisition of GrandVision, after a Phase II review. EssilorLuxottica is a global manufacturer of spectacle frames, sunglasses, and ophthalmic lenses, and it owns eyewear brands such as RayBan, Oakley, and Persol. GrandVision is a global player in optical retailing, and it operates in more than 40 countries across Europe, the Americas and Asia. The Commission had concerns that the transaction could worsen rival opticians' access to EssilorLuxottica's eyewear products, thereby weakening retail competition. The Commission ultimately cleared the transaction subject to a divestment of certain retail activities in the Netherlands, Belgium, and Italy, where it maintained concerns.
RBB Economics assisted EssilorLuxottica in the context of this merger investigation, alongside BonelliErede and Latham&Watkins. RBB Economics also advised EssilorLuxottica on the merger’s filing in other jurisdictions.