Vision Service Plan Inc. has acquired Marchon Eyewear Inc. for $735 million in cash and debt.
VSP, Rancho Cordova, Calif., runs eyecare plans with 55 million members and $2.6 billion in annual revenue.
Marchon, Melville, N.Y., is an eyeglasses and sunglasses manufacturer with $525 million in annual revenue.
Marchon will become a wholly owned subsidiary of VSP, VSP says.
Al Berg, president of Marchon, and Larry Roth, the company’s executive vice president, will keep their current positions, and Marchon will continue to operate from its headquarters in Melville, VSP says.
VSP’s own Altair Eyewear eyewear division will become part of Marchon.