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CES Optical, L.L.C. Acquires Reading Eyewear Company Scojo New York
CES Optical announced it has completed the acquisition of Scojo Vision, LLC (“Scojo New York”), a designer, manufacturer and wholesaler of high quality, high-design reading eyewear.
By: CES, LLC / Chicagoland Optical
Recognizing the continual growth of the reading eyewear business, CES Optical acquired Scojo New York and will work aggressively to profitably grow this business domestically and overseas. "The acquisition provides CES Optical entry into the premium reading eyewear category and furthers the Company’s strategy of developing a market-leading portfolio of distinctive branded personal accessories and eyewear. Financial terms of the transaction were not disclosed.
Founded in New York City in 1999, privately-held Scojo New York has developed a superior reputation for its stylish reading eyewear deploying innovative memory plastics and polarized lens technology in fashionable frame designs. Scojo New York designs reading eyewear for people who love to read. The Scojo New York brand is currently sold at eyeglass stores, high-end department stores and specialty stores throughout the United States at price points in the $20 to $145 range. Scojo New York has generated solid top line growth since its inception, most recently achieving $2.2 million of net sales for 2006. CES Optical will continue to sell the product under the Scojo New York brand name, and the acquisition is expected to be accretive to earnings in the first year of operations.
Rob Rich, CEO of CES Optical states, “This acquisition fits squarely into our strategy to become a leading designer and marketer of branded personal accessories and eyewear. Our customers, who demand service and quality, look to us to provide a variety of products that are functional, yet allow for individual expression. Scojo New York, with its terrific frame designs and unsurpassed performance, enhances the ways in which we serve our existing consumers and expands our reach to a broader and more diversified base.”
Effective immediately, Scojo New York will operate as a new division of CES Optical, L.L.C. under the continued leadership of co-founder Scott D. Berrie. Mr. Berrie said, “This is a great transaction for both companies. CES Optical, L.L.C. will provide a solid platform to raise the visibility and distribution of the Scojo New York brand. In addition, several members of CES Optical senior management team have prior experience, across many disciplines, in the eyewear category. This expertise, combined with our shared vision of providing consumers products that combine innovative design and ultimate performance with guaranteed craftsmanship, makes Scojo New York a logical addition to CES Optical portfolio of high-quality personal accessories. I feel extremely comfortable that our brand will continue to flourish under CES Optical leadership.”
Over the last 5 years, CES Optical has successfully identified opportunities for expansion by acquiring high-end retail eyewear boutiques throughout metropolitan Chicago, creating the Chicagoland Optical group. These retailers include Spex, Eyeland of St. Johns, and Keno Optical, among others. Via the acquisition of OGI, this Minneapolis-
Mr. Rich concluded, “The team at Scojo New York has done an outstanding job creating a dynamic, entrepreneurial company with a reputation for quality, craftsmanship and innovation. We intend to provide the resources to maximize the growth potential of the Scojo New York brand by layering their products into our extensive distribution network and providing additional design, marketing and product development expertise. We welcome the Scojo New York team and look forward to a strong future together.”
Media Contact: Marilyn Frank (847-905-
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Over the last 5 years, CES Optical has successfully identified opportunities for expansion by acquiring high-end retail eyewear boutiques throughout metropolitan Chicago, creating the Chicagoland Optical group of retailers. Via the acquisition of OGI, this Minneapolis-