Leicester lens manufacturer sold in £96.5m deal

A Leicester manufacturer of cinematographic lenses that has been trading since 1886 has been sold for £96.5m.

Cooke Optics Group, which makes lenses for the film, television and advertising industries, had been bought by Caledonia Investments.

For the year ending 30 June 2017, Cooke Optics made a profit of £2.8m.

Les Zellan, Cooke’s chairman, said: “We are delighted to be partnering with Caledonia in the next phase of Cooke’s development. Caledonia’s reputation as a long term, supportive investor gives us confidence that we can continue building the Cooke legacy derived from over 130 years of supporting the film industry.”

Duncan Johnson, Caledonia’s head of unquoted investments, said: “We are delighted to have become owners of such an iconic business and brand as Cooke Optics. Its profitability and high cash generation, combined with its strong competitive position in the film making industry globally, makes it ideally suited to Caledonia’s unquoted portfolio. We look forward to working with Les Zellan and his team to take advantage of growth opportunities deriving from Cooke’s innovation in full-frame camera lens technology, increased demand from China and the expansion of the digital streaming market globally.”