Essilor International SA agreed to buy full control of its Transitions Optical venture from PPG Industries Inc. for $1.73 billion to strengthen its tinted- products line in the French lensmaker’s biggest deal ever.

The purchase of PPG’s 51 percent stake in the partnership will add to earnings the first year that Transitions Optical is integrated, Essilor, based in the Paris suburb of Charenton-le- Pont, said today in a statement.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.