MILAN Nov 25 Italian eyewear group Luxottica
said on Friday it had exercised an option to acquire
the remaining 63.2 percent stake in Salmoiraghi & Vigano, taking
control of one of the country's leading optical chains.
Luxottica first invested in Salmoiraghi & Vigano, whose
shops are present in some of Italy's prime retail locations, in
2012 to help expand the chain and give it financial resources to
fend off any potential foreign buyers.
The deal is expected to be closed in the first quarter of
2017, Luxottica said.
Since founder and top shareholder Leonardo Del Vecchio
returned to the helm at Luxottica two years ago as executive
chairman, the maker of Ray Ban and Oakley sunglasses has stepped
up investments to boost its retail presence.
(Reporting by Agnieszka Flak; Editing by Crispian Balmer)