All M&A articles – Page 8
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News briefs
L’amy Luxe acquires Von Arkel
Group L’amy Luxe, the French eyewear maker that had been saved from bankruptcy proceedings by the International Luxury Group and MadaLuxe at the end of last year, just announced the acquisition of the Swiss brand of luxury eyewear Von Arkel. Founded in 2015, Von Arkel develops and distributes eyeglasses and ...
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ArticleJimmy Fairly to boost international business under new ownership
The vertically integrated French eyewear brand Jimmy Fairly is changing hands after its founders, Antonin Chartier and Sacha Bostoni, and the investment fund Experienced Capital, their main financial partner since 2017, agreed to sell a majority stake of the company to the HLD investment fund. Experienced Capital will exit the ...
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ArticleKering Eyewear acquires Lindberg
Kering Eyewear, an entity of the French luxury group Kering, announced on July 8 the acquisition from the Lindberg family of 100 percent of the share capital of LINDBERG, the Danish-based independent eyewear company. The details of the transaction, which is expected to complete later this year after regulatory clearance, ...
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ArticleEssilux to close GV acquisition
EssilorLuxottica announced yesterday that its board of directors has approved the completion of the acquisition of HAL’s 76.72 percent stake in GrandVision at the price of €28.42 per share that was initially agreed on July 2019. The announcement was followed by a very short statement by GrandVision, in which the ...
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ArticleEssilux free to terminate GV deal following arbitral decision
Just half an hour apart, EssilorLuxottica and GrandVision both announced yesterday evening that the arbitration proceedings between them ended with a decision favorable to the Italo-French group. The arbitral tribunal declared by majority that GrandVision had breached its obligations under the Support Agreement for the sale of ...
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News briefs
Essilor to complete Lenstec’s takeover
The Essilor Group in the U.K. announced a few days ago the completion of the acquisition of the Lenstec Optical Group, in which it had taken a minority shareholding through Shamir in 2016. Lenstec operates three sites in the U.K. and reported annual revenues of £22 million (€25m-$31m) in 2019. ...
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News briefs
CooperVision acquires No7 Contact Lenses
Following a multi-year partnership with No7 Contact Lenses, CooperVision announced on April 27 the acquisition of the U.K.-based contact lenses’ specialist for an undisclosed amount. The company will be integrated in the CooperVision Specialty EyeCare group. CooperVision said that the acquisition would allow the group to offer more of its ...
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Article
ECOO, ZVA criticize EU decision in Essilux-GV case
The European Council of Optometry and Optics (ECOO), the Brussels-based umbrella association, and the Zentralverband der Augenoptiker und Optometristen (ZVA), the German association of opticians and optometrists, both released official statements at the end of last month criticizing the terms of the European Commission’s clearance of the takeover of GrandVision ...
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News briefs
Chile conditionally approves Essilux-GV transaction
GrandVision announced yesterday that Fiscalía Nacional Económica, the market regulator for Chile, just approved the transaction agreed with EssilorLuxottica in July 2019, following the steps of Brazil, Colombia, Mexico, the U.S., and most recently the European Union. This decision leaves Turkey as the only country where the transaction is still ...
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News briefs
Essilux acquires Walman in the U.S.
After having put business acquisitions on hold last year as cost control became a priority in a Covid-19 market environment, EssilorLuxottica is back on the external growth track with the acquisition of Walman in the U.S., which was announced yesterday. Created in 1915 and based in Minneapolis, Walman presents itself ...
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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 is subject to ...
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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, Italy and the ...
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News briefs
Activist investor builds up stake in Bausch Health
The activist investor Carl Icahn disclosed that he has bought 27.8 million shares in Bausch Health, becoming the largest shareholder with a 7.83 percent stake. Following the news, Bausch Health issued a statement saying that its board and management “welcome open communication with our shareholders and constructive input toward the ...
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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 the agreement with Essilux, ...
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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 and chief technology officer Roy Yamner. ...
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News briefs
Hilco Vision buys digital vision testing systems provider
Hilco Vision has acquired M&S Technologies, an Illinois-based provider of digital vision testing systems for the North American market. No financial details were released. M&S was founded in 1990 by its president Joe Marino, who will be staying on in a leadership role with Hilco Vision. Hilco Vision is a ...
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News briefs
Italian post office buys a Chinese e-commerce services provider
The Italian postal and financial services group Poste Italiane and Cloud Seven Holding have signed a binding deal to reinforce their partnership in e-commerce services between Italy and China. Under the deal, Poste Italiane will buy 51 percent of the voting capital of Sengi Express, a wholly-owned unit of Cloud ...
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News briefsNew Look Vision buys The Vision Clinic
New Look Vision has reinforced its position as Canada’s main optical retailer with the acquisition of The Vision Clinic (TVC), which has 12 retail optical clinics in Southern Ontario. The purchase price for an unspecified majority stake was 18.8 million Canadian dollars (€12.1m-$14.8m). TVC was founded in 1994 by the ...
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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 acquisition of the Combine ...
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News briefsItalia Independent to proceed with €7.8 million capital increase
Italia Independent has decided to proceed with a previously announced €7.8 million capital increase. The board has authorized the Chief Executive, Marco Cordeddu, to launch the recapitalization towards which the shareholders Lapo Elkann and Creative Ventures have already made advance payments totalling €4 million and which are destined to ...
