SMITHFIELD, R.I. — Workplace safety equipment maker Bacou USA and its majority owner, Bacou SA, have agreed to merge with the French protective eyewear company Christian Dalloz SA, according to a statement released by Bacou this morning.
The merger will be achieved through a cash and stock combination, with Dalloz paying $201.7 million in cash and 3.3 million in new Dalloz shares for Bacou SA’s capital, plus $28.50 per share for the 29 percent of Bacou USA not owned by Bacou SA. Shares of Bacou closed at $23.40 yesterday.
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The new company will be known as Bacou-Dalloz. According to the companies, the new entity will be the world’s largest maker of safety harnesses and the largest U.S. maker of safety glasses and ear plugs, employing some 7,000 people.
According to reports, Bacou USA employs more than 2,200 people worldwide, including about 390 in Rhode Island, 100 in Massachusetts, and 107 in Connecticut. Information was not available regarding how the merger with Dalloz would affect jobs at Bacou.
During the past year, Bacou officials said they were exploring “strategic alternatives” — including finding a buyer — for the company.
