Essilor International SA (ENXTPA:EI) acquired 80% stake in X-Cel Optical Company from family members of Joe Doescheron and management of X-Cel on December 7, 2012. Chief Executive Officer and President of X-Cel, Joe Doescher and Chief Financial Officer, Wayne Gottwalt will collectively retain 20% stake in X-Cel. X-Cel posted revenue of $33 million. Joe Doescher and Wayne Gottwalt will remain in their current positions, along with other members of the management team.

Essilor International SA (ENXTPA:EI) completed the acquisition of 80% stake in X-Cel Optical Company from family members of Joe Doescheron and management of X-Cel on December 7, 2012.