Luxottica Group is acquiring Multiopticas Internacional to enhance its operations in Latin America. The Italian luxury eyewear company will pay about $134.5 million to acquire 57% of Multiopticas.

The company, which already owns 40% of the company, will pay 70% of the purchase price in July and the rest by the end of 2011. The remaining 3% will remain with minority shareholders, adds The Wall Street Journal. Multiopticas currently owns over 470 eyewear stores in Chile, Peru, Ecuador and Colombia.

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