MILAN, July 17 (Reuters) -

French-Italian eyewear maker EssilorLuxottica has

agreed to buy streetwear brand Supreme from U.S. apparel and

footwear group VF Corporation ( VFC ) for $1.5 billion in cash,

both companies said on Wednesday.

The sale of Supreme is expected to be dilutive to VF's

earnings per share in fiscal 2025, according to the joint

statement.

The deal is expected to close by the end of 2024, the

companies added.

In a separate statement EssilorLuxottica said it had agreed

to buy a 80% stake take in Heidelberg Engineering, a

Germany-based company specialising in diagnostic solutions,

digital surgical technologies and healthcare IT for clinical

ophthalmology, without giving financial details.