Seed Co Limited has acquired the optical manufacturer Contact Lens Precision Laboratories (CLPL), which owns brands including UltraVision and Kerasoft.
CLPL produces speciality and custom contact lenses, and sells to more than 40 countries globally. The sale makes it a subsidiary of Seed.
Following the acquisition, Seed has said it plans to “develop higher quality contact lenses by utilising CLPL’s advanced design and optical analysis technology.” It also plans to expand sales in the UK and Ireland.
Speaking about the acquisition, Seed highlighted that the decision to join forces will support both companies needs for more effective mass production in order to boost demand for small-sized custom and speciality lenses.
Seed and CLPL will now establish a 100 days committee that aims to set action plans for each business.
Joint chief executive officers of CLPL and UltraVision, Diane Angell and John Clamp respectively, will continue in their roles after CLPL becomes a subsidiary of Seed.
Seed will send non-executive directors to CLPL and UltraVision, and exchange junior engineers with UltraVision.