All M&A articles – Page 7
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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 obtain confirmation that ...
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ArticleEU suspends deadline for probe into Essilux’s takeover of GrandVision
The European Commission has suspended the deadline for the end of an in-depth investigation into EssilorLuxottica’s proposed €7.2 billion takeover of GrandVision, according to a filing on its website. The commission has repeatedly postponed the deadline. The last one being August 27. The proposed deal, referred to as case M.9569, ...
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ArticleEssilorLuxottica sues GrandVision over Covid-19 disclosure
EssilorLuxottica has initiated legal proceedings before a district court in Rotterdam to obtain information from GrandVision regarding the management of its business during the Covid-19 pandemic and the extent to which it has allegedly ”breached its obligations under the support agreement.” The Franco-Italian eyewear company, which made a €7.2 ...
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Article
Antares eyes distressed Italian fashion assets
Italian private equity and debt-management group Antares is launching a new fund targeting investments among the country’s small and mid-sized financially-struggling fashion companies, whose ranks have grown with the Covid-19 pandemic. Antares has already raised €50 million in fresh cash for its “luxury and lifestyle” turnaround fund, largely with Italian ...
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ArticleEU may ask Essilux to sell stores in GrandVision deal
The European Commission may ask EssilorLuxottica to sell stores in Italy and another EU country, either France or the Netherlands, to secure its planned 7.2 billion euro acquisition of GrandVision, according to the newspaper Financial Times. But the company has not yet committed to selling shops as it argues that ...
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News briefsGoogle snaps up smart glass group North
U.S. tech giant Google has acquired Canadian smart glasses producer North for an undisclosed sum. Founded in 2012 and originally called Thalmic Labs, North initially focused on new forms of interaction with Myo, a gesture-based input device that directly coupled neuro-muscular impulses into signals computers could understand. It then shifted ...
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Article
Italian components group Margot looks to grow
Margot, an Italian group that makes metallic components for luxury leather goods, shoes and eyewear that is controlled by the private equity Mandarin Capital Partners, is looking to expand with an acquisition in the third or fourth quarter of this year, says Andrea Tuccio, a partner with Mandarin. The aim ...
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News briefs
EU may express concern about EssilorLuxottica purchase of GrandVision
The European Commission may stress that the planned takeover of GrandVision by EssilorLuxottica could harm competition, the news agency Reuters reported, citing people familiar with the matter. The commission is expected to send a statement of objections outlining its doubts in a move to prompt the companies to offer remedies. ...
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News briefs
Del Vecchio plans to double stake in key Italian bank
Delfin, the Luxembourg-based holding company of Leonardo Del Vecchio, the founder of Luxottica, has filed with the Bank of Italy a request to increase its stake in the influential investment bank Mediobanca above 10 percent, with the objective of reaching 20 percent. Delfin has a 9.9 percent stake in Mediobanca, ...
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Article
OWP takes over Flair
OWP Brillen, owner of the private OWP and Metropolitan brands as well as the licensed Mexx eyewear brand, acquired the Beck Group, including its subsidiary Bexx Brillenmode, on March 17. The Beck Group, located in Oelde, Germany, is better known for its high-end Flair brand name. It will be run ...
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ArticleInspecs’ new Vietnamese factory attracts new clients
The Inspecs Group suffered delays in the extension of its Vietnamese factory as a result of the Covid-19 pandemic. But the project is nearing completion and production in the new section is scheduled to start towards the end of the second quarter. In the meantime, the company is shipping goods ...
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Article
Safilo sees coming weeks as critical to save sunglass season
The coming couple of weeks will be crucial to understanding if the sun season can be saved. If lockdowns are lifted in Europe and the recovery picks up in the U.S. the task can be achieved, according to Safilo.
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Article
Safilo buys Privé Revaux at a hefty price
Two months after announcing the acquisition of Blenders in California (see EWI Vol. 20 n°15 +16), Safilo has bought another fast-growing American eyewear brand, Privé Revaux, from a number of shareholders. Chief among them is a San Francisco-based private equity fund, TSG Consumer Partners, which invested in the company in ...
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Article
EssiLux’ buy of GrandVision comes under closer scrutiny
Confirming the Reuters report mentioned in our previous issue, the European Commission has confirmed its decision to launch an in-depth investigation, known as a phase II review, into EssilorLuxottica’s planned takeover of GrandVision. The preliminary investigation ended on Feb. 6. The commission had until June 22 to take a decision ...
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News briefs
Bayfields acquires Charnley
Bayfields Opticians and Audiologists of the U.K. has acquired Charnley Opticians, located in the English town of Royal Leamington Spa, in its effort to expand its network from 19 stores to 40 by 2025.
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Article
Inspecs plans acquisitions after its recent IPO
Inspecs has managed to sell all the new and existing shares it planned to place in its initial public offering (IPO) on the Alternative Investment Market (AIM) of the London Stock Exchange, despite a difficult market environment. The company’s share price remained in line with the IPO price of ...
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News briefs
Zeiss buys Saxonia Systems
Carl Zeiss has completed its acquisition of a producer of custom software, Saxonia Systems, which has been renamed Carl Zeiss Digital Innovation. Zeiss said the company will provide “digitalization solutions, from process, technology and software architecture consultations all the way to requirements management, implementation, quality assurance and maintenance.” It will ...
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News briefs
L Catterton buys stake in FYidoctors
The U.S. private equity firm L Catterton has bought a “strategic” minority stake in the Canadian eyecare company FYidoctors. No details have been released. FYidoctors was created in 2005 by a group of eye doctors, has 250 locations and continues to be owned by optometrists. The investment will provide the ...
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News briefs
Abbvie and Allergan enter agreement with FTC
Abbvie and Allergan have entered into a consent decree agreement with the staff of the U.S. Federal Trade Commission (FTC) regarding AbbVie’s acquisition of Allergan. Under the terms of the consent decree, the companies have agreed to divest brazikumab, an investigational inhibitor in the development for autoimmune diseases, to AstraZeneca, ...
