3M to sell safety prescription eyewear business to Hoya
By Renée Francoeur
December 9, 2016 – Hoya Vision Care is buying 3M’s safety prescription eyewear business, which is part of the latter’s Safety & Graphics Business, Personal Safety division. Terms of the transaction were not disclosed.
“After a thorough strategic review, we have decided to exit the safety prescription eyewear business to focus on our core personal safety businesses,” said Bernard Cicut, VP and GM of the Personal Safety division.
The business has annual global sales of about $45 million, says 3M, and provides a line of frames, prescription lenses and premium coating options in a custom-made solution.
3M will retain its safety non-prescription eyewear (a.k.a. plano) business.
The transaction is expected to close Q1 2017, after which about 140 3M employees are expected to join Hoya.