November 25, 2016 / 6:40 PM / 3 years ago

Luxottica buys remaining 63.2 pct of Salmoiraghi & Vigano

MILAN, Nov 25 (Reuters) - Italian eyewear group Luxottica said on Friday it had exercised an option to acquire the remaining 63.2 percent stake in Salmoiraghi & Vigano, taking control of one of the country’s leading optical chains.

Luxottica first invested in Salmoiraghi & Vigano, whose shops are present in some of Italy’s prime retail locations, in 2012 to help expand the chain and give it financial resources to fend off any potential foreign buyers.

The deal is expected to be closed in the first quarter of 2017, Luxottica said.

Since founder and top shareholder Leonardo Del Vecchio returned to the helm at Luxottica two years ago as executive chairman, the maker of Ray Ban and Oakley sunglasses has stepped up investments to boost its retail presence.

Reporting by Agnieszka Flak; Editing by Crispian Balmer

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