O.C. BUSINESS PLUS : ORANGE COUNTY BRIEFLY : Meade Instruments Acquires Bresser Optik
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Meade Instruments Corp. said Wednesday that it acquired Bresser Optik, a privately held European distributor of binoculars and other optical products, for $7 million.
Meade, Irvine-based maker of telescopes and accessories as well as binoculars, said it will pay $5 million in cash and 101,000 shares of common stock.
Although the transaction is not expected to bolster Meade’s earnings in the fiscal year ending Feb. 29, the addition of Bresser Optik will help expand the distribution of many Meade products in Europe, the company said.
Bresser Optik, which is based in Borken, Germany, had 1998 sales of $25 million. In its last fiscal year, Meade earned $45.6 million on revenue of $76 million.
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