Nagoya, Japan, 19 November, 2009
The deal provides a base of operations for Menicon's expansion in the U.K.
Menicon Co., Ltd. (Menicon) and David Thomas Contact Lenses Ltd. (DTCL) announced on November 19 that the two companies reached agreement on November 16, 2009 for Menicon to acquire 100% of the ownership of DTCL. The acquisition of DTCL will enable Menicon to build on DTCL's successful business in the U.K. and abroad.
Menicon has an important presence in the European rigid gas permeable lens and lens care market, though not in the U.K. The existing directors and staff will remain with DTCL and customers will continue to receive the same levels of service as before. All existing DTCL products will continue to be available and, over time, other products from Menicon will be introduced through DTCL, including Menicon's growing range of soft contact lenses.
Mr. William Thomas, Managing Director of DTCL, commented: "We are very excited and pleased about the acquisition as it will bring additional skills, expertise and resources to enable DTCL to continue growing and innovating in the custom contact lens field. We see the acquisition as a new beginning, which will strengthen DTCL and make available to our customers an exciting new range of products."
Dr. Hiderani Tanaka, President of Menicon, added: "We have watched David Thomas Contact Lenses evolve into a leading specialty lens manufacturer in the U.K. and we see great potential to work together with DTCL to grow Menicon's business in this very important market. The quality of its products and the business model fits very well into our company culture. We are extremely pleased to be able to work with William Thomas and his excellent team in Northampton to further grow their specialty business while taking on the responsibility for growing Menicon's U.K. business. I am confident that both Menicon and DTCL will benefit substantially from the synergy of working together as part of the same family. "