EX-99.1
4
a10-5382_2ex99d1.htm
EX-99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact
Information:
ICR Inc.
FGX International
R. Idalia Rodriguez
Anthony
Di Paola
Investor Relations
Chief
Financial Officer
203-682-8264
401-719-2253
FGX COMPLETES MERGER WITH ESSILOR
SMITHFIELD, RI - March 15,
2010 - FGX International Holdings Limited (Nasdaq: FGXI) ("FGX International")
announced that it has completed its merger with a subsidiary of Essilor
International ("Essilor") of Charenton-le-Pont, France.
FGX International
shareholders received $19.75 per share in cash, for an aggregate value of
approximately $575 million, including the repayment of FGX International debt
of approximately $115 million. Upon completion of the merger, FGX International
became a wholly-owned subsidiary of Essilor and its shares ceased to be
publicly traded on the NASDAQ Global Select Market. Following the merger, FGX
International will change its place of incorporation from the British Virgin
Islands to the State of Delaware.
"We are excited to be a part
of Essilor and look forward to doing great things together", said Alec Taylor,
FGX International's Chief Executive Officer.
The world leader in
ophthalmic optical products, Essilor International researches, develops,
manufactures and markets around the world a wide range of lenses to correct
myopia, hyperopia, presbyopia and astigmatism. Its flagship brands are
Varilux®, Crizal®, Essilor®, Definity® and Xperio™. Based in France, the
company reported consolidated revenue of €3.2 billion in 2009, with 34,700
employees and operations in 100 countries. For more information, please visit
www.essilor.com.The Essilor share trades on the NYSE Euronext Paris market and
is included in the CAC 40 index. Codes and symbols: ISIN: FR FR0000121667;
Reuters: ESSI.PA; Bloomberg: EI:FP
.
FGX International is North
America's leading designer and marketer of non-prescription reading glasses and
popular priced sunglasses. FGX brands include FosterGrant®, Magnivision®, Solar
Shield®, Polar Eyes®, Corinne McCormack®, Angel™, Anarchy®, and Gargoyles®. FGX
also holds licenses to sell optical products under the Ironman, Levi Strauss
Signature, C9 by Champion and Body Glove trademarks. FGX International products
are found in over 63,000
retail locations in the US,
Canada, Mexico and the United Kingdom. Revenues for 2009 were $259.3 million.
About FGX
Based in Smithfield, Rhode
Island, FGX International has approximately 500 full-time employees. Additional
offices are located in San Luis Obispo, CA; New York, NY; Toronto, Canada;
Stoke-on-Trent, England; Mexico City, Mexico; and Shenzhen, China. Further
information about FGX International and this press release can be found on FGX
International's web site at www.fgxi.com.

EX - 99 . 1 4 a10 - 5382 _ 2ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 FOR IMMEDIATE RELEASE Contact Information : ICR Inc . FGX International R . Idalia Rodriguez Anthony Di Paola Investor Relations Chief Financial Officer 203 - 682 - 8264 401 - 719 - 2253 FGX COMPLETES MERGER WITH ESSILOR SMITHFIELD , RI - March 15 , 2010 - FGX International Holdings Limited ( Nasdaq : FGXI ) ( " FGX International " ) announced that it has completed its merger with a subsidiary of Essilor International ( " Essilor " ) of Charenton - le - Pont , France . FGX International shareholders received $ 19.75 per share in cash , for an aggregate value of approximately $ 575 million , including the repayment of FGX International debt of approximately $ 115 million . Upon completion of the merger , FGX International became a wholly - owned subsidiary of Essilor and its shares ceased to be publicly traded on the NASDAQ Global Select Market . Following the merger , FGX International will change its place of incorporation from the British Virgin Islands to the State of Delaware . " We are excited to be a part of Essilor and look forward to doing great things together " , said Alec Taylor , FGX International 's Chief Executive Officer . The world leader in ophthalmic optical products , Essilor International researches , develops , manufactures and markets around the world a wide range of lenses to correct myopia , hyperopia , presbyopia and astigmatism . Its flagship brands are Varilux ® , Crizal ® , Essilor ® , Definity ® and Xperio ™ . Based in France , the company reported consolidated revenue of € 3.2 billion in 2009 , with 34,700 employees and operations in 100 countries . For more information , please visit www.essilor.com.The Essilor share trades on the NYSE Euronext Paris market and is included in the CAC 40 index . Codes and symbols : ISIN : FR FR0000121667 ; Reuters : ESSI . PA ; Bloomberg : EI : FP . FGX International is North America 's leading designer and marketer of non - prescription reading glasses and popular priced sunglasses . FGX brands include FosterGrant ® , Magnivision ® , Solar Shield ® , Polar Eyes ® , Corinne McCormack ® , Angel ™ , Anarchy ® , and Gargoyles ® . FGX also holds licenses to sell optical products under the Ironman , Levi Strauss Signature , C9 by Champion and Body Glove trademarks . FGX International products are found in over 63,000 retail locations in the US , Canada , Mexico and the United Kingdom . Revenues for 2009 were $ 259.3 million . About FGX Based in Smithfield , Rhode Island , FGX International has approximately 500 full - time employees . Additional offices are located in San Luis Obispo , CA ; New York , NY ; Toronto , Canada ; Stoke - on - Trent , England ; Mexico City , Mexico ; and Shenzhen , China . Further information about FGX International and this press release can be found on FGX International 's web site at www.fgxi.com .