VSP Vision Completes $1.8 Billion Acquisition of Marcolin Eyewear

The deal combines Italian luxury craftsmanship with American vision care scale, bringing Tom Ford, Zegna, and Christian Louboutin eyewear under the same umbrella as Marchon’s Nike and Calvin Klein frames

Not-for-profit vision benefits provider VSP Vision announced on Dec. 23 that it has completed the acquisition of Marcolin, a global eyewear design, manufacturing, and distribution company, from PAI Partners and other minority shareholders.

The deal adds Marcolin’s portfolio of luxury and lifestyle eyewear brands to VSP Vision’s existing eyewear business, Marchon Eyewear. Both companies will continue to operate independently following the acquisition.

“The acquisition of Marcolin marks another important milestone in our 70-year history of providing VSP members, clients, network doctors, owned retail locations and key customers with more value and choice,” said Michael Guyette, President and CEO of VSP Vision. “Marcolin’s portfolio of globally renowned brands, manufacturing expertise, and geographic presence greatly complement Marchon Eyewear’s brand portfolio and capabilities, further strengthening our ability to meet evolving customer needs throughout the world.”

Luxury expansion and Italian manufacturing boost

The acquisition significantly expands VSP Vision’s presence in the luxury eyewear segment and strengthens its manufacturing capabilities in Italy, a global center for premium eyewear production. By combining Marcolin’s European manufacturing expertise with Marchon’s existing operations, VSP Vision gains greater vertical integration across design, production, and distribution.

The deal also provides VSP Vision with an expanded roster of licensed luxury brands, complementing Marchon’s existing partnerships with brands such as Nike, Calvin Klein, and Lacoste. Marcolin’s portfolio includes Tom Ford, Zegna, Christian Louboutin, ic! berlin, Max Mara, Guess, and numerous other fashion and lifestyle brands.

For PAI Partners, the exit represents the conclusion of its investment in Marcolin, which the private equity firm acquired in 2012. The sale to VSP Vision provides continuity for Marcolin’s operations while integrating the company into a larger vision care ecosystem.

Not-for-profit giant meets Italian craftsman

VSP Vision is the first national not-for-profit vision benefits company in the United States, founded 70 years ago. The organization operates across multiple segments including vision benefits, eye care services, eyewear solutions through Marchon, and practice solutions. VSP Vision serves millions of members through a network of more than 42,000 doctors and operates the VSP Vision Eyes of Hope program, which has provided no-cost eye care and eyewear to more than 4.3 million people in need.

Marcolin was founded in 1961 in the Veneto region of Northern Italy and has built its reputation on combining traditional Italian craftsmanship with advanced manufacturing technologies. The company distributes its eyewear collections in more than 125 countries through its own direct network and global partners. In addition to its licensed brand portfolio, Marcolin owns house brands including WEB EYEWEAR and ic! berlin.

CapM Advisors acted as exclusive financial advisor to Marcolin’s shareholders, with Latham & Watkins providing legal counsel. Kirkland & Ellis and Chiomenti served as legal advisors to VSP Vision.