LONDON, Jan. 16 (UPI) -- French lens manufacturer Essilor International agree to buy Ray-Ban and Oakley sunglass maker Luxottica Group in a deal estimated at some $24 billion.
The combined company, to be known as EssilorLuxottica, will be the largest company in the eyewear industry, manufacturing frames and prescription lenses for glasses and sunglasses. The new company will have some 140,000 employees and sales in more than 150 countries.