HOYA Corporation Announces Agreement to Acquire Performance Optics

HOYA Corporation (HOYA) today announced a definitive agreement to acquire Performance Optics, LLC (Performance Optics), including its subsidiaries VISION EASE and Daemyung Optical.Performance Optics is a global ophthalmic lens manufacturer specializing in polycarbonate, photochromic, polarized and high index eyeglass lenses. This acquisition will strengthen HOYA’s ability to provide customers with a broader portfolio of leading products, while continuing to provide best-in-class services to the eyewear industry.
 
“The acquisition of Performance Optics expands HOYA’s customer reach, particularly through VISION EASE’s presence in the Americas and its strengths in polycarbonate products and technologies,” said Girts Cimermans, CEO of HOYA Vision Care. “Performance Optics provides HOYA with additional capabilities in polycarbonate, photochromic and polarized lens technologies, as well as an expansion of our global footprint in high index lens casting to reinforce our position as a global technology leader in lens manufacturing. Importantly, we also will augment our global research & development capabilities, creating a new technology center of excellence outside of Japan.”
 
Performance Optics is a global eyeglass lens manufacturing company employing over 2,000 people around the world. With manufacturing facilities in the United States, Korea, China, Thailand and Indonesia, Performance Optics serves the worldwide needs of eyewear customers. “Performance Optics’ subsidiaries, VISION EASE and Daemyung Optical, have capabilities and cultures of innovation, quality and service that strongly complement HOYA’s footprint and long-standing reputation in the eyewear industry,” said John Weber, CEO of Performance Optics. “By joining forces, we will better meet our customers’ global needs across geographies.”
 
“Our acquisition of Performance Optics continues HOYA’s strategic initiatives in the Life Care segment,” said Augustine Yee, Chief Legal Officer and Global Head of Corporate Development and Affairs at HOYA Corporation. “Performance Optics enables HOYA to become a more broad-based leader in Vision Care, our largest division.”