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Monday, Apr 22, 2024
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Sola Sale Complete

Sola International Inc., an eyeglass lens manufacturer with its headquarters in San Diego, has ceased to exist as an independent, publicly traded company.

As of March 22, Sola became an indirect, wholly owned subsidiary of a German company, Carl Zeiss TopCo GmbH. Ownership is split 50-50 between Zeiss and the private equity firm EQT. The buyer paid $28 for each Sola share.

Sola makes and distributes eyeglass lenses. It has 100 people at a regional distribution center in San Diego and 40 people at the headquarters. Most of the staff will stay in place, said Ron Dutt, Sola’s chief financial officer. There was very little overlap between the buyer and the acquired company, Dutt said, and layoffs will be kept to a minimum.

Though it has kept a low profile in San Diego, Sola has 6,600 employees in 27 countries.

The company’s New York Stock Exchange symbol was SOL.

Brad Graves

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