Hoya Vision Care expands direct presence in Brazil

The company recently announced the acquisition of Optotal Hoya South America, its exclusive partner in Brazil Optotal runs the biggest prescription lens laboratory and one of the largest distribution networks in Brazil's ophthalmic lens market. Hoya has worked with Optotal since 1992 under the terms of a distribution agreement that in 2007 led to a successful joint-venture for the production of prescription lenses. Since then, Optotal has rapidly become an important player in Brazil and is the leading progressive lens maker. Optotal employs 400 people and since 2008 its average annual increase in billings has been 28%.   With the acquisition of Optotal, Hoya will have a strong presence in South America and will aggressively pursue expansion opportunities in the fast-growing Brazilian market. By the end of 2013, Brazil's total population will exceed 200 million, with consumers of 45 and over – the target for the progressive lens market – totaling more than 57 million.   Dr. Carlos Bessa, founder and CEO of Optotal, said: "We look forward to expanding our collaboration with Hoya Vision Care and grow on the basis of the considerable success of the past 20 years of collaboration. Our team is very pleased to be part of the Hoya family. We have close working relationships with our customers and we are strongly committed to supporting them in their work through best-in-class materials, geometries and treatments".   Hoya Vision Care president and CEO Gerald W. Bottero said: "The acquisition of Optotal is an important step for Hoya for laying the foundations of future growth in BRIC (Brazil-Russia-India-China) countries that have huge potential. We look forward to working with Dr. Bessa and his team on the expansion of our platform of high-quality lenses and services in Brazil. We intend to further strengthen the position established by Optotal with continual product innovation, training for opticians and consumers, and more "points-of-presence".