Gerber Scientific, Inc. Signs Definitive Agreement to Sell Gerber Coburn Ophthalmic Lens Processing Unit
Gerber Scientific, Inc. (“the Company”) (NYSE: GRB) today announced that it had entered into an agreement to sell its ophthalmic lens processing business, Gerber Coburn, to Coburn Technologies, Inc. for $21.0 million. The Company expects to use the net proceeds of approximately $19 million, after fees and expenses, to reduce its outstanding debt and for general corporate purposes.