Essilor International S.A. acquires Coastal Contacts Inc.

Essilor International (Compagnie générale d'optique), S.A. acquired Coastal Contacts Inc. by way of a plan of arrangement (the arrangement) between Coastal and a wholly-owned subsidiary of Essilor. Pursuant to the plan of arrangement Essilor indirectly acquired all of the issued and outstanding common shares of Coastal for a total purchase price of approximately $430 million ($12.45 per share). Immediately following the arrangement, Coastal and Essilor's wholly-owned subsidiary amalgamated to continue as Coastal Contacts Inc.

The arrangement was completed pursuant to a statutory plan of arrangement under section 192 of the Canada Business Corporations Act and was approved at a meeting of the shareholders of Coastal on April 16, 2014 and by the Supreme Court of British Columbia on April 23, 2014.

Essilor International's team was led by David Milan, General Counsel and Senior Vice President of Legal, at Essilor of America, Inc., and was assisted by Fasken Martineau DuMoulin LLP with a team including Robert Paré, Marie-Josée Neveu, Steve Saville, Samuel Li and Benjamin Somers (M&A and corporate); Douglas New (competition), Alain Ranger (tax), Lindsey Taylor (labour), Jean-Philippe Mikus (intellectual property), Mathieu Gagné and Tracey Cohen (litigation); Stephanie Sanger and Kristen Brewer (environment) and Sarah Batut (real estate).

Coastal was represented by McCarthy Tétrault LLP with a team including Cameron Belsher, Sven Milelli, Pavan Jawanda, Michael Weber and Jessica Dorsey (corporate and securities); TJ Kang and Brian O'Neill (tax); Oliver Borgers and Jonathan Bitran (competition), and Miranda Lam (arrangement hearing) and Christopher McHardy (employment).

The Special Committee of the Board of Directors of Coastal was represented by a team from Blakes, Cassels & Graydon LLP including Bob Wooder, Michelle Audet and Jason Gudofsky (M&A and corporate).