Private equity firm PAI Partners has agreed to sell Italian eyewear manufacturer Marcolin to US-based VSP Vision, owner of Marchon, marking the conclusion of a protracted sales process that attracted interest from some of the sector’s biggest players, according to a report by Reuters.
Financial terms have not been disclosed, but the deal represents a full exit for PAI, which has held Marcolin in its portfolio since 2012. During its ownership, PAI oversaw the strengthening of Marcolin’s licensing portfolio, including securing a permanent agreement to produce Tom Ford–branded eyewear. The company generated €546m ($639m) in revenues in 2024.
The sale comes after more than a year of speculation, with luxury eyewear groups including Kering Eyewear, EssilorLuxottica and Safilo previously circling the asset before deciding not to proceed. PAI and Marcolin had reportedly spent much of 2023 and 2024 renewing key commercial agreements to position the company for a sale or merger.
For VSP, the acquisition bolsters its global eyewear presence and adds a premium European manufacturing platform to complement its Marchon brand. For PAI, the exit underscores continued appetite for consumer and luxury assets in Europe despite volatile dealmaking conditions.
