Safilo Closes Acquisition of SPY+ and Serengeti

Italian eyewear giant Safilo Group has officially closed its acquisition of sport and performance eyewear brands SPY+ and Serengeti, picking up the labels from Bollé Brands in a deal worth US$24.6 million (approximately A$35.7 million).

The transaction was first flagged back in May, when Safilo signed a Share and Asset Purchase Agreement with Bollé Brands on 11 May 2026. With all customary closing conditions now met, the deal was formally completed on 1 July.

The acquisition covers selected SPY+ and Serengeti assets across Europe, along with full ownership of two dedicated legal entities operating in the United States and Canada. Together, the two brands generated approximately US$39 million (around A$56.6 million) in sales in 2025, and the purchase was funded entirely from Safilo's existing financial resources.

For Safilo, the move is the latest in a run of targeted brand acquisitions aimed at bulking out its portfolio in high-growth categories. SPY+ and Serengeti will now sit alongside home brands Smith, Carrera, Polaroid and Blenders.

Safilo Group CEO Angelo Trocchia said the two labels slot neatly into different parts of the market. SPY+, he noted, is a well-established US brand that strengthens the company's footprint in the sport and outdoor channel alongside Smith and Blenders, giving Safilo a stronger multi-brand play across price points. Serengeti, meanwhile, is being positioned as the group's entry into the premium and high-end end of performance eyewear, built on its long-running mineral lens technology.

Trocchia said the company expects to generate both top-line and cost synergies from the deal by tapping its supply chain, global distribution network and direct-to-consumer capabilities.

With SPY+ and Serengeti now under the Safilo umbrella, independent opticians and eyecare retailers stocking Safilo's existing sport and outdoor ranges, Smith and Blenders in particular, may see the group push a more coordinated multi-brand offering across sunglasses, prescription frames and outdoor eyewear. Serengeti's addition also gives Safilo a stronger premium proposition to offer alongside its licensed fashion labels.

Safilo posted net revenues of €983.4 million (around A$1.62 billion) in 2025 and distributes through roughly 100,000 points of sale worldwide via wholly owned subsidiaries in 40 countries and more than 40 distribution partners across 70 countries.