Lenskart Singapore Acquires 50% Stake in Marco Optical (Thailand) for USD 5M
Lenskart Singapore will acquire a 50% stake in Marco Optical (Thailand) for USD 5,000,000. This will establish a joint venture with Matt Optical, each holding 50%. The investment covers share purchase and a future convertible loan. Sunrise Thailand operates in eyewear manufacturing and trading.
The acquisition represents a strategic expansion into Thailand's eyewear market, which could lead to increased revenue and market share, but the immediate financial impact is moderate given the investment size relative to Lenskart's overall operations.
The acquisition of a 50% stake in Marco Optical (Thailand) and the formation of a joint venture are positive developments for Lenskart's expansion in the international market.
Lenskart Solutions Pte. Ltd., Singapore, a wholly owned subsidiary of Lenskart Solutions Limited, has approved the acquisition of 250,000 ordinary shares, representing a 50% stake in Marco Optical (Thailand) Co., Ltd. (“Sunrise Thailand”). This acquisition was made from Matt Optical Co., Ltd., an existing investor in Sunrise Thailand, as per a term sheet agreement.
Following this acquisition, Sunrise Thailand will operate as a Joint Venture, with both Lenskart Singapore and Matt Optical holding an equal 50% share in its issued share capital. The total investment commitment is THB 168,750,000, equivalent to USD 5,000,000. This amount includes the purchase of shares and a loan that may be converted into equity in the future.
Sunrise Thailand is involved in the manufacturing and trading of eyewear, including frames and sunglasses. Incorporated on August 3, 2023, it reported a turnover of THB 3,985.96 in 2023 and THB 101,625.28 in 2024. The acquisition is strategic for Lenskart's expansion in the eyewear market.
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Lenskart Solutions Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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