Kering, EssilorLuxottica among front-runners to buy eyewear maker Marcolin: FT

seekingalpha03-09

French luxury group Kering (OTCPK:PPRUF) and French Italian eyewear maker EssilorLuxottica (OTCPK:ESLOF) are among potential suitors to acquire the Italian eyewear manufacturer Marcolin, The Financial...

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The manufacturer of Tom Ford eyewear line has held early discussions with the duo and its rival Safilo (OTCPK:SAFLF), the FT said, citing people familiar with the matter. US-based Marchon is also said to have indicated buyout interest. However, the valuation of €1.3B ($1.4B) sought by its private equity owners, PAI Partners, has become a point of debate, even as Kering (OTCPK:PPRUY), EssilorLuxottica (OTCPK:ESLOY), Safilo (OTCPK:SAFLF), and Marchon have considered Marcolin as an add-on asset.  Still, Kering (OTCPK:PPRUF), EssilorLuxottica (OTCPK:ESLOF), or Safilo (OTCPK:SAFLF) haven't indicated a willingness to \"overspend\" on Marcolin, the people said though its licensing deal with Estée Lauder (EL) for the Tom Ford brand makes it an attractive target, according to bankers and analysts. However, a valuation of more than €1B is not justifiable for a company with complex industrial processes, which could lead to integration issues. A deal is also likely to attract considerable regulatory scrutiny, as all suitors are large operators in the eyewear market. According to the people, EssilorLuxottica (OTCPK:ESLOF), the world's largest eyewear maker, will be the best fit for Marcolin.  Marchon, being a smaller player compared to others, and Safilo (SAFIF), given its recent financial strains, are considered the least likely suitors. PAI, Marcolin, Kering (OTCPK:PPRUF), EssilorLuxottica (OTCPK:ESLOY), and Safilo (OTCPK:SAFLY) didn't comment on the talks. Marchon didn't immediately respond to a request for comment.  More on EssilorLuxottica, Kering, etc.  Kering: Revival Underway But Impact Yet To Be Seen (Rating Upgrade) EssilorLuxottica: Short-Term Margin Pressure, Buy Confirmed Kering: Bottom Fishing Will Not Work With This Luxury Laggard Seeking Alpha’s Quant Rating on EssilorLuxottica Société anonyme Historical earnings data for EssilorLuxottica Société anonyme","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2418241002"}