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Luxottica and Mazzucchelli enter into collaboration for sustainable acetate
Milan and Castiglione Olona (Italy), June 11, 2021 – Luxottica and Mazzucchelli announce a collaboration agreement to develop and produce a highly sustainable type of acetate, accessible to all market players.
The agreement provides for the acquisition by Luxottica of a minority stake of around 35% of the share capital of Mazzucchelli, in order to further finance the development of the project inside the Mazzucchelli production plants.
The transaction confirms and strengthens the long-standing commitment of Luxottica, which is part of the EssilorLuxottica Group, and Mazzucchelli to reduce the environmental impact of their activities in the long term along the value chain, increasing the offer of high quality and sustainable eyewear.
The rationale for the transaction is financial only and does not entail any shareholder agreement to be signed for the appointment of any director designed by Luxottica in Mazzucchelli. The founder’s family Orsi Mazzucchelli will continue to manage the company.