3M (St. Paul, Minn.; www.3m.com) has entered into an agreement to sell its safety prescription eyewear business to HOYA Vision Care, a global leader in the eyeglass lens industry. The safety prescription eyewear business is part of 3M’s Personal Safety Division, which is in the Safety & Graphics Business. Terms of the transaction were not disclosed.
The business, with more than 90 years as an industry leader in safety prescription eyewear in North America, provides a comprehensive line of frames, prescription lenses, and premium coating options in a custom-made solution. 3M’s safety prescription eyewear business has annual global sales of approximately $45 million.
“After a thorough strategic review, we have decided to exit the safety prescription eyewear business to focus on our core personal safety businesses,” said Bernard Cicut, vice president and general manager, Personal Safety Division. 3M will retain its safety non-prescription eyewear business, often referred to as plano eyewear.
3M is a global leader in personal safety solutions, including respiratory protection, fall protection, hearing protection, and plano (non-prescription) eye protection.
The transaction is expected to close during the first quarter of 2017, subject to customary closing conditions. Approximately 140 3M employees are expected to join HOYA after the transaction has closed.