The French luxury goods group Kering SA has successfully completed the takeover of the US sunglasses manufacturer Maui Jim Inc. announced in March. The group’s subsidiary Kering Eyewear now holds more than 90 percent of the shares in Maui Jim, the company announced on Monday. The remaining shares are to be acquired by the end of the year, so the consolidation of the new acquisition took place on October 1st.
With the acquisition of the “world’s largest independent high-end eyewear brand”, Kering Eyewear was able to strengthen its presence in North America. There, the Maui Jim label, founded in 1987, has “achieved a leading position”, explained the new parent company. The aim is now to exploit the brand’s “great global potential”. Financial details of the transaction have still not been released.
For Kering Eyewear, the acquisition of Maui Jim means the second important addition to the portfolio in a short period of time: last year, the company had already acquired the Danish eyewear supplier Lindberg.
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