Purchaser of International marches on with Tura deal.
ESCHENBACH, the Munich-based business which bought International Eyewear last year, has acquired a US frames and sunglasses supplier and claims it has entered the top ten players in the global eyewear market.
The German company has purchased Tura, which has been active in the US and Canadian optical markets for over 70 years, for an undisclosed sum. Tura will remain an independently operated company in the US market, and the merger means it acquires Eschenbach's former eyewear business, BBH Eyewear Inc.
Eschenbach has been marketing its frames and sunglasses in the USA through BBH since 2001, and the addition of Tura is expected to significantly strengthen join sales of products and speed up growth at Tura, which will continue to operate as an autonomous company. Tura distributes its own brands, including Tura, Turaflex, Ted Baker, Tourneau, Lulu Guinness and Goldfinch.
Wolfgang Rebstock, Eschenbach CEO, (pictured right) said: "Following the acquisition of International Eyewear in the United Kingdom in 2008, our merger with Tura marks a major milestone on the road toward establishing a global presence in the eyewear market, over and above the growth opportunities offered by the American market."
The head of its eyewear division, Peter Schwind, said: "In acquiring Tura, we intend to more firmly anchor our product portfolio in North America, and further broaden the importance of our brands."
He commented that "recent talks" indicate that Eschenbach has additionally positioned itself as a candidate for international brand licenses.
John Weir, Tura president, (pictured left) said: "I see the merger with Eschenbach as a tremendous opportunity for both companies. With the Eschenbach Group, we have found a partner who will support Tura's independence over the longterm. Together, we will be working to continue to tap into the enormous potential offered by the US market."
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||NEWS; Eschenbach buys Tura|
|Article Type:||Brief article|
|Date:||Dec 18, 2009|
|Previous Article:||'World's-first' LV kit.|
|Next Article:||Ex-Specsavers 00 processed 50,000 [pounds sterling] in fraudulent claims.|