Cooper Unit Acquires Contact Lens Company
Dow Jones
Cooper Cos. Inc. said Tuesday that its CooperVision unit acquired cosmetic contact lens company CL-Tinters Oy for about $14 million. Lake Forest-based Cooper said it will pay up to $7 million more if CLT meets certain goals.
CooperVision expects the acquisition of privately held CL-Tinters will increase manufacturing capacity and decrease unit cost for CooperVision’s recently introduced line of cosmetic lenses.
CL-Tinters, which previously was a CooperVision contractor, had annual revenue of about $4 million last year. CooperVision, a maker of specialty health-care products, had revenue of $197.3 million in 2000.
Cooper stock gained $1.30 Tuesday to close at $45.40 a share on the New York Stock Exchange.
