EssilorLuxottica has acquired Faro, an Italian company with more than 20 years of expertise in the design, manufacture, and distribution of high-precision CNC machinery for milling and diamond cutting, serving the jewelry and eyewear industries. Financial terms of the transaction were not disclosed.
Based in Santa Maria di Sala, Venice, in the heart of Italy’s eyewear district, Faro has established itself as a trusted reference for eyewear manufacturers, offering fully integrated solutions spanning hardware and software that enable new creative and technological possibilities in frame and lens manufacturing.
The acquisition deepens EssilorLuxottica’s vertical integration by adding precision manufacturing technology capabilities to its portfolio. For Faro, the transaction provides access to EssilorLuxottica’s global resources, expertise, and scale to accelerate its long-term growth while preserving its identity and distinctive know-how.
EssilorLuxottica has indicated the deal will benefit the broader eyewear industry by accelerating the development of innovative machinery for frame and lens production across the market.
KEY QUOTE:
“Faro embodies the excellence of precision engineering and the core values of Made in Italy. By joining our Group today, it further strengthens and completes our unique portfolio of expertise and manufacturing capabilities, while accelerating the development of innovative machinery for the production of frames and lenses across the entire industry. This transaction will also enable us to support Faro’s international growth while safeguarding its identity and distinctive know-how, to the benefit of all market players.”
Francesco Milleri, Chairman and Chief Executive Officer, EssilorLuxottica
