The Rodenstock Group has signed a deal to take over Indo Optical, a Spanish leader in the ophthalmic lens industry.
The takeover should be complete in the third quarter of 2022 and is subject to approval by the relevant antitrust authorities. Financial details of the transaction will not be released.
The takeover will allow Rodenstock to expand further globally and reach new customers, increasing cross-selling.
While the growth forecast of
Indo Optical for the Spanish and Portuguese markets is in line with the European trend, an increase of 10% CAGR is predicted for the Moroccan market (where Indo is the industry leader) between 2022 and 2027, and this could become influence future growth rates.
Also, it is expected that the takeover will bring i
mportant synergies and will improve profit margins in the lenses business.