All M&A articles – Page 6
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News briefsH2 Equity Partners is acquiring Optegra
H2 Equity has reached an agreement to buy the ophthalmology group Optegra from Eight Roads Ventures . The deal is expected to be completed early 2021. Optegra runs 23 eye hospitals and clinics in the U.K., Poland and the Czech Republic and offers a wide-range of services ...
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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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News briefsHilco Vision buys German reader firm I Need You
The American company Hilco Vision has acquired I Need You (INY), a Hamburg-based provider of premium reader glasses. The acquisition became effective on Oct. 30. INY was founded by the Gellermann family in 1993. INY founder, Uwe Gellermann , and the company’s joint managing director, Neele ...
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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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ArticleVam Investments buys 80% of Demenego
The Milan-based private equity Vam Investments has bought an 80 percent stake in Demenego , an Italian eyewear producer which also manages 16 points of sale. The De Menego family will retain a 20 percent interest in the company, which posted sales of €23 million in 2019 and ...
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News briefs
Rationale of Essilux, GrandVision tie-up remains unchanged
The strategic logic behind EssilorLuxottica ’s proposed acquisition of GrandVision has not changed despite the litigation between the two companies, Leonardo Del Vecchio , Essilux executive chairman, told the Italian daily Il Messaggero . Del Vecchio is the founder of Luxottica and is the main shareholder of Essilux ...
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News briefsWalmart sells Asda to a group of investors
The American retailer Walmart has agreed to sell a majority stake in Asda , its British chain of supermarkets, to a group of investors comprising the brothers Mohsin and Zuber Issa and TDR Capital . The deal values Asda £6.8 billion (€7.5bn-$8.8bn). Walmart will keep a minority ...
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News briefsSafilo completes sale of Martignacco site
Safilo has completed the sale of a factory in Martignacco, situated in the Italian region of Friuli Venezia Giulia, to iVision Tech , a unit of iVision Group , an Italian concern with activities spreading from software to face masks. No financial details were released. The facility will ...
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ArticleKKR buys 1-800 Contacts
The investment firm KKR has agreed to buy 1-800 Contacts , the American online retailer of contact lenses, from AEA Investors , which acquired the company in January 2016. No financial details were disclosed but the news agency Reuters cited an unnamed source indicating that the deal ...
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ArticleU.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart
The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok . The department had previously announced that the ban would start today. The decision comes after U.S. President Donald Trump said he had given his “blessing” to ...
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News briefs
Club OpticLibre expands in Belgium
Club OpticLibre , the French voluntary group of opticians, has reached an agreement to take over its Belgian peer Obos . The French company represents some 1,500 stores, 100 of which are in Belgium. With the tie-up, the network will exceed 1,700 locations and the firm aims to have sales ...
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News briefs
MetLife buys Davis Vision, Superior Vision
The US financial services firm MetLife has entered into a definitive agreement to acquire Versant Health from an investor group led by Centerbridge Partners for $1.675 billion in an all-cash transaction. Versant Health owns the managed vision care brands Davis Vision and Superior Vision . Following ...
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ArticleEssilorLuxottica ready to pursue lawsuit against GrandVision after losing first round
Yesterday, a Dutch district court rejected EssilorLuxottica ’s request to obtain information from GrandVision to determine whether the Dutch retailer had breached the terms an agreement in view of its takeover by Essilux. The court said that the large volume of corporate information that Essilux is seeking to ...
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News briefs
Bayfields Opticians continues U.K. expansion
Bayfields Opticians and Audiologists has acquired three independent optical practices as it continues to expand in the U.K. It bought Gohil and Grey in Leamington Spa, Pendleburys in Maidstone, and Cooper Leatherbarrow in Barnard Castle. The move comes after the fund BGF ...
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News briefs
CooperVision buys orthokeratology contact lens firm GP Specialists
CooperVision has acquired GP Specialists , a Californian manufacturer and distributor of customized orthokeratology contact lens. CooperVision said that the move further expands its Specialty EyeCare business and its offer to address the increasing severity and prevalence of myopia. Terms of the transaction were not disclosed. Steve ...
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ArticleABG, SPARC picked to buy Brooks Brothers for $325 million
The iconic American apparel group Brooks Brothers has selected Authentic Brands Group (ABG) and its partially owned retail unit SPARC as the winning bidders of a competitive sale process after they increased their offer to $325 million for the vast majority of the company’s global business operations as ...
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ArticleGrandVision starts arbitration proceedings against EssilorLuxottica
GrandVision has initiated arbitration proceedings against EssilorLuxottica ’s claims that the Dutch retailer had breached its obligations under the co-called “Support Agreement” in managing its business during the Covid-19 pandemic. GrandVision reiterated that it strongly disagrees with EssilorLuxottica’s accusations. It added that it has initiated the arbitration to ...
