Foothill Ranch-based Oakley Inc.’s $2.1 billion acquisition by Italy’s Luxottica Group SPA gained Federal Trade Commission approval on Friday.
The deal still is subject to other regulatory reviews outside the U.S., as well as approval by Oakley shareholders.
Earlier this week, Britain’s Office of Fair Trading said it is reviewing the deal.
There’s been no speculation about regulatory complications for the deal. It’s expected to close in the fourth quarter.
Oakley makes sunglasses and clothes and runs several stores selling fashion glasses for prescription lenses. It has yearly sales of about $920 million.
Luxottica, which counts yearly sales of $5 billion, designs and makes upscale eyeglasses frames and sunglasses. It also sells upscale frames from Chanel, Prada and others through its retail arm, which includes Sunglass Hut and the LensCrafters and Pearle Vision chains.
