EssilorLuxottica has announced the acquisition of Faro, an Italian company with over 20 years of expertise in the design, manufacture and distribution of high-precision CNC machinery for milling and diamond cutting, serving the jewelry and eyewear industries.
A media release said that Faro, based in Santa Maria di Sala, Venice, in the region of Italy’s eyewear district, had become a trusted reference for eyewear manufacturers, with fully integrated solutions – from hardware to software – that “unlock new creative and technological possibilities for frame and lens manufacturing”.
It said the acquisition further strengthened EssilorLuxottica’s vertical integration by adding critical technological capabilities to the group. At the same time, it will enable Faro to accelerate its long-term growth, leveraging group’s resources, expertise and global scale.
“Faro embodies the excellence of precision engineering and the core values of Made in Italy,” said Francesco Milleri, chairman and CEO at EssilorLuxottica.
“By joining our group today, it further strengthens and completes our unique portfolio of expertise and manufacturing capabilities, while accelerating the development of innovative machinery for the production of frames and lenses across the entire industry.
“This transaction will also enable us to support Faro’s international growth while safeguarding its identity and distinctive know-how, to the benefit of all market players.”
