In a surprising move, $2.6 billion eye care benefits provider VSP on Monday acquired Marchon Eyewear Inc. for $735 million in cash and debt.
Under the terms of the agreement, Marchon, whose revenues exceeded $525 million last year, will become a wholly owned subsidiary of the Rancho Cordova, Calif.-based VSP. The company delivers full-service eye care benefits to 55 million members in the U.S. and Canada and dispenses eyewear technologies and services to private practice eye doctors. The firm also provides low-income, uninsured children with free eye care.
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