VSP Vision completes acquisition of Marcolin

VSP Vision has completed the acquisition of Marcolin from PAI Partners and other minority shareholders, as announced in September.

"The acquisition of Marcolin marks another important milestone in our 70-year history dedicated to offering members, customers, VSP network physicians, owned retail locations and our key partners ever-greater value and choice," said Michael Guyette, president and CEO of VSP Vision.

Marcolin to continue operating as independent entity

"Marcolin's portfolio of global brands, its manufacturing excellence and geographic presence integrate seamlessly with Marchon Eyewear's brands and expertise. This further strengthens our ability to meet the evolving needs of customers worldwide," Guyette added.

Marcolin and Marchon will continue their business operations as they do today, management explained in the statement.

Marcolin's brand portfolio includes Tom Ford, Zegna, Christian Louboutin, Ic! berlin, Max Mara and Guess, among others. Founded in Northern Italy in 1961, Marcolin distributes its products in over 125 countries.

CapM Advisors acted as exclusive financial adviser to Marcolin's shareholders, while Latham & Watkins served as their legal counsel. Kirkland & Ellis LLP and Chiomenti were VSP's legal advisers.

Marcolin's year-to-date sales and adjusted EBITDA show improvement

In the first nine months of 2025, Marcolin Group's revenues grew by 2.1 percent (3.8 percent at constant exchange rates), reaching 416.6 million euros (491.4 million dollars).

Adjusted EBITDA also improved, reaching 68.5 million euros (80.8 million dollars), representing 16.4 percent of net sales.

The main geographic markets remained EMEA and the Americas. EMEA recorded revenues of 218.6 million euros (up 7.6 percent at both current and constant exchange rates). The Americas posted 142.7 million euros (down 5.5 percent at current exchange rates, down 1.5 percent at constant exchange rates). The Asian market, which holds high potential for the group, fully recovered during the third quarter of 2025 from the temporary slowdown caused by different procurement timing from major distributors during the first half of 2025.

The adjusted net financial position stood at 326.9 million euros, an increase of 5.6 million euros compared to December 31, 2024. This was primarily due to the temporary cash absorption of net working capital resulting from typical business seasonality.

This article was translated to English using an AI tool.

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