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Bausch & Lomb

This article was originally published in The Gray Sheet

Executive Summary

Investment banking firm Warburg Dillon Reed has been retained to assist in the process of evaluating strategic options for its lagging sunglass business - which includes the Ray-Ban and Killer Loop lines. "Alternatives to be considered include joint ventures, sale, spin-off, or other business combinations," the firm states in a Nov. 18 release. B&L plans to focus on leveraging its three eye-related healthcare businesses - Vision Care, Pharmaceuticals and Surgical Products. Despite recent improvements in the eyewear business, "it is apparent to us that [B&L's] greatest potential for accelerated growth in the future lies in our healthcare business for the eyes," states William Carpenter, B&L president and CEO. Eyewear business sales were down 6.3% in fiscal 1997 (ended Dec. 27) to $492.1 mil. while corporate revenues from ongoing product lines were up 2% to $1.9 bil
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