The Eschenbach Group of Nuremberg has acquired U.S.-based
eyewear company Tura, effective Nov. 30, 2009, according to
a joint announcement from the two companies. The purchase
price was not disclosed.
With the Tura acquisition, Nuremberg-based Eschenbach
Group will generate annual sales of just under $210 million
in 2010 with its high-quality eyeglass frames, sunglasses,
vision aids, consumer optics and technical optics. The
corporate Eschenbach group has developed at an above-average
pace since Barclays Private Equity acquired a majority stake
in Eschenbach in 2007.
Tura has been active in both the U.S. and Canadian
markets for more than 70 years as one of the leading
suppliers of eyeglass frames and sunglasses. Eschenbach has
been marketing its frames and sunglasses in the U.S. since
2001 through its subsidiary, BBH Eyewear Inc.
The addition of the Eschenbach collections to the Tura
brand portfolio is expected to significantly strengthen
joint sales of all product lines and accelerate growth at
Tura, which will continue to operate as an autonomous
company, the statement said.
Tura president John Weir and the current executive
management team will remain unchanged, as will Tura’s
sales network, distribution structure and support staff.
The Eschenbach Group subsidiary, Eschenbach Optik of
America, has been a market leader for optical and electronic
low vision products since 1983 and will continue this focus
in the U.S.
“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,” said
Wolfgang Rebstock, chief executive officer of Eschenbach
Group.
Peter Schwind, head of the Eyewear Division at Eschenbach,
added: “In acquiring Tura, we intend to more firmly anchor
our product portfolio in North America, and further broaden
the importance of our brands. Recent talks indicate that
Eschenbach has thus additionally positioned itself as a
candidate for international brand licenses.”
Tura president John Weir views 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 long term. Together, we’ll
be working to continue to tap into the enormous potential
offered by the U.S. market.”
Founded in New York in 1938, New York-based Tura provides
the U.S. and Canadian eyewear markets with high quality
frames and sunglasses. In addition to its own popular
brands, such as Tura and Turaflex, the company also sells
the Ted Baker, Lulu Guinness, Tourneau and Goldfinch brands
currently under license.
Eschenbach, founded in Nuremberg in 1913 has three
divisions, Eyewear, Optics and Technical Optics. The Eyewear
division is a top European supplier of eyeglass frames and
sunglasses. Eschenbach designs, produces and distributes its
products under the TITANflex, Humphrey´s, Brendel, crush,
oio and fineline brands, as well as under the Marc O’Polo
and Bogner Eyes licensed brands. The Optics division
specializes in optical and electronic vision aids and is a
major supplier of binoculars while the Technical Optics
division develops and produces customized plastics-based
optical components for high-tech applications in the sensor
technology, automotive and solar markets.
The Eschenbach Group has subsidiaries in nine European
countries, the U.S. and Japan and currently employs more
than 500 people, including some 350 in Germany.
