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Shamir acquires minority shares of Lenstec

Lens companies announce deal for integration of service network offering enhanced product and technology choices for practitioners

The Shamir and Lenstec management teams

Lens manufacturer Shamir has announced the acquisition of a minority of Lenstec shares in the UK and will integrate its UK-based service network with Lenstec prescription laboratories nationwide.

A joint statement from the companies this week highlighted that both companies have a strong foothold with practitioners and will consequently enjoy the benefit of “operational synergies.”

The acquisition provides Lenstec with access to the full portfolio of Shamir products and services, enhancing its wide-ranging choice of technology, products and services to practitioners in the UK.

The Lenstec Optical Group will continue to offer its full portfolio of branded lenses and own-label products across key suppliers

However, both sales, production and marketing teams will remain separate “offering continued support and expert industry knowledge, coupled with personal and professional relationships.”

Shamir UK general manager, Phil Bareham, told OT: “We look forward to the continuation and expansion of our business cooperation with our valued customers in the UK.”

Pictured signing the agreement (left to right) is the managing director of Lenstec, Nigel Castle, with Mr Bareham and Shamir International’s chief financial officer, Lior Regev. Standing left to right are: Lenstec’s financial director, Gerard Donovan, Shamir International’s vice president, Shai Michael and Shamir International’s general counsel, Yair Di Segni.