Corporate and M&A – Page 8
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Article
New owner for Rodenstock
Apax Partners , a private equity firm based in the U.K., has agreed to acquire Rodenstock from Compass Partners , another investment fund and the majority shareholder of the German brand of high-end lenses and frames since February 2016. Financial details of the transaction have not been disclosed. It ...
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ArticleEU green light for Essilux-GrandVision merger
Putting a final point to an investigation started in December 2019, the European Union (EU) announced yesterday evening its conditional clearance for the acquisition of GrandVision by EssilorLuxottica . The green light is conditioned to the divestment, proposed by EssilorLuxottica, of a total of 351 stores in Belgium, ...
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Article
New Look Vision Group changes hands
New Look Vision Group , a leading optical retailer in Canada, has announced an agreement for its acquisition by NL1 AcquireCo , a newly created investment vehicle composed of funds managed by FFL Partners , the Caisse de dépôt et placement du Québec ( CDPQ ), an investment fund ...
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Article
Maison Bourgeat relaunched in a DTC venture
Vertical integration has been the name of the game lately in many industries including ours, and even more so since the Covid-19 outbreak, with brands going direct to consumer as the dominant pattern. The revival project of the Maison Bourgeat name offers a different picture though, with a 5-store ...
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Article
Solstice Sunglasses files for bankruptcy protection
Solstice Marketing Concept LLC , owner of the Solstice Sunglasses retail chain, filed for Chapter 11 bankruptcy protection last week in the Southern District of New York, after its sales nose-dived by more than 50 percent last year from 2019 levels. The company highlighted the impact of the Covid-19 ...
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ArticleEssilux to buy 50% of SightGlass Vision from CooperCompanies
EssilorLuxottica will buy a 50 percent stake of SightGlass Vision , which focuses on developing lenses to reduce the progression of myopia in children, from CooperCompanies, the parent company of CooperVision. CooperCompanies held a minority ownership interest in SightGlass Vision and bought the company in January. Under ...
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ArticleGlassesUSA.com raises $45m in funding
GlassesUSA.com has raised $45 million in funding from the Israeli private equity firm Tene Investment Fund . Established in 2008, the online eyewear retailer is a subsidiary of Optimax Eyewear . It was founded by the company’s chief executive Daniel Rothman , chief operating officer Eldad Rothman ...
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ArticleCooperVision expands manufacturing facilities as demand grows
CooperVision announced the expansion of manufacturing facilities located in North America and Europe due to growing demand for its contact lenses. It also believes that the Covid-19 pandemic will force eye care professionals (ECP) to review their long-term business practices. The Gilbert site, situated in suburban Phoenix and ...
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ArticleCecop continues aggressive expansion in the U.S.
Cecop , the international buying group based in Madrid, continues its rapid expansion in North America with the acquisition of the Alliance Buying Group (ABG), based in Monmouth, Illinois, from Surgery Partners . No financial details were released. Cecop entered the North American market in May with the ...
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ArticleFielmann buys Óptica & AudiologÍa Universitaria in Spain
In spite of the Covid-19 pandemic, Fielmann , the German-based optical retailer, keeps expanding, as mapped out in its Vision 2025 strategic plan, with the acquisition of Óptica AudiologÍa Universitaria , one of the leading retail groups in Spain. The transaction will complete on Dec. 31. The details ...
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ArticleTechVision looks to expand one-stop components shop
TechVision , an Italian holding company owning companies producing metal components and providing surface finishing services for eyewear, aims to roughly triple its size in the next three to four years, as the eyewear sector recovers from the hit it has taken from the Covid-19 pandemic and management keeps an ...
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ArticleManager takes over GemOptics from Mondottica
As part of its strategy to focus on its eyewear distribution business, with licensed brands such as Christian Lacroix , Sergio Tacchini or Pepe Jeans among others, Mondottica International has sold its entire stake in the wholly-owned unit GemOptics to Robert Content , the general manager ...
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ArticleInspecs buys Eschenbach for €95 million
Inspecs is buying the German company Eschenbach Holding for €94.85 million (£84.7m), a move that will enable the British eyewear company to obtain greater scale and provide it with the opportunity to acquire bigger global licenses. Inspecs will also be able to utilize its manufacturing expertise in ...
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ArticleItaly’s main buying groups merge
Italy’s two main buying groups, Vision Group and Netcity , will merge on Jan. 1, but will maintain their offices and staff based in Milan and Prato, near Florence. Vision Group has more than 2,100 associated optical stores, operating under different banners including VisionOttica’s , the group’s nationwide ...
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ArticleL’Amy saved by ILG, MadaLuxe
L’Amy , the French eyewear maker, which can boast over 200 years of history, has been saved by its existing shareholder, International Luxury Group (ILG), and an American partner, MadaLuxe . The two buyers took over, with similar stakes, the company, which has been renamed Groupe L’Amy Luxe, ...
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ArticleFarfetch, Alibaba, Richemont, Pinault family form a formidable alliance in digital sales
Farfetch , Alibaba , Richemont and the Pinault family, which owns the French luxury goods company Kering , have entered a global partnership with the declared intent of providing luxury brands with “enhanced access” to the Chinese market as well as accelerating the digitization of the global ...
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ArticleChange of ownership at Mondottica International
The Hong Kong-based Mondottica International has changed ownership and is now controlled by a consortium comprising Capital Eyes Holding , Ross Holdings and Ferdinand Menrad . No financial details were released, but the tran partnersaction includes a substantial capital injection. Capital Eyes Holding is an Asia-based investment ...
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ArticleNew CEO and brand positioning for Hoya Vision Care
Hoya has announced the appointment of Alexandre Montague as the new CEO of Hoya Vision Care, the lens division of the Japanese group. The French eyewear industry veteran started in this position in August, after spending six months at the helm of Hoya Eye Care, the company managing ...
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ArticleSynsam builds new plant as it moves production to Sweden
Synsam plans to move eyeglass production from Asia to Sweden next year. The project involves the construction from scratch of a new factory that the company claims will focus on sustainable production. The facility is scheduled to be completed in autumn of 2021 in the town of Ockelbo. ...
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ArticleEssilor restructures its French sites
Essilor , the ophthalmic lens unit of the Franco-Italian group EssilorLuxottic a, is grouping four existing French sites into a new laboratory that will be located in the Paris region. From the end of 2023, the company will transfer the ophthalmic lens business of the sites of Antony, Vaulx-en-Velin ...
