GrandVision has signed an agreement to double its stake in Visilab to 60 percent, with an already approved plan to raise it to 79 percent in 2019. It had first acquired a share of 30 percent in 2007. Founded in 1988, the leading Swiss optical retail chain operates 98 stores across the country. It is currently controlled by its president, Daniel Mori. Visilab had a turnover of 173 million Swiss francs (€173m-$178m) in 2016. The terms of GrandVision's takeover have not been disclosed.

Topics