German biometric and ophthalmic lens manufacturer Rodenstock has reached an agreement to acquire Indo Optical, one of Spain's leading manufacturers of corrective lenses, as well as a distributor of diagnostic equipment and optical instruments for opticians and ophthalmologists.

The deal is part of Rodenstock's strategy to gain market share and accelerate its regional expansion. The transaction is expected to close in the third quarter of 2022, upon receipt of regulatory approval.

Market share
Indo Optical has its headquarters in Sant Cugat del Vallès (Barcelona), with two production plants in El Papiol (Barcelona) and Tangier (Morocco). It also has a presence in Portugal and France. With more than 80 years of history, it employs some 440 people.

Third in market share in Spain, it leads sales in Morocco and has a solid reputation thanks to its close relationship with independent opticians. Its growth, which has been strong and sustainable in recent years, has even meant an increase in clientele during the pandemic.

Innovative track record
Rodenstock, founded in 1877 and based in Munich, Germany, has a long history of innovation. The acquisition of Indo Optical will enable it to increase its presence abroad and reach customers in a more premium segment. It intends to extend the commercialisation of its latest patented technology to other audiences.

The German company expects significant growth in the Spanish and Portuguese markets, but especially in the Moroccan market, where it expects to reach double digits between 2022 and 2027. It also expects to create significant synergies that will help it improve its margins on lens sales.

New brand architecture
Rodenstock CEO Anders Hedegaard (pictured) said, "The acquisition of Indo Optical is an important step in our strategic ambition to increase Rodenstock's global presence and drive the transformation of our industry. Indo Optical's product offering fits perfectly with our new brand architecture and will allow us to increase synergies for the benefit of our customers".

Rodenstock CFO Marcus Desimoni also values the acquisition, which, he said, "offers exciting opportunities to gain market share and cross-sell Rodenstock products in more premium segments under the Indo Optical label. We can therefore reinforce our position as a market-leading medical technology company as we continue our regional transformation and expansion".

Enric Florensa, CEO of Indo Optical, explained, "We are sure that we can further increase our market share within the Rodenstock group. This combination is a perfect strategic fit in terms of geographic presence, brand architecture and industrial efficiency”.

^{Photo: Rodenstock}