EssilorLuxottica : EssilorLuxottica and GrandVision enter into an agreement with Vision Group for the sale of stores in Italy
December 17 2021 - 2:00AM
EssilorLuxottica : EssilorLuxottica and GrandVision enter into an
agreement with Vision Group for the sale of stores in Italy
EssilorLuxottica
and GrandVision
enter into an
agreementwith Vision
Group for the sale of
stores in Italy
Charenton-le-Pont,
France, Schiphol, The Netherlands
and Milan, Italy
(17 December
2021 –
8:00 am) EssilorLuxottica,
GrandVision and Vision Group, one of the largest distribution
networks for Italian opticians and a retail player under the
VisionOttica banner, announced today that the companies have
entered into an agreement for Vision Group to acquire the VistaSì
chain in Italy, including the brand and all the 99 stores, and 75
GrandVision stores in the country. This follows the commitments
agreed upon with the European Commission on 23 March 2021, as part
of the acquisition of GrandVision by EssilorLuxottica.
The agreement between EssilorLuxottica,
GrandVision and Vision Group also provides for transitional
agreements to support the business continuity of the divested
perimeters following the implementation of the transaction.
Completion of the transaction between
EssilorLuxottica, GrandVision and Vision Group is subject to the
approval of the European Commission, as part of the commitments’
procedure. The transaction is expected to close in the first
quarter of 2022.
Advisors to EssilorLuxottica and GrandVision:
Mediobanca - Banca di Credito Finanziario S.p.A. and Lazard acted
as financial advisors, Sullivan & Cromwell LLP served as
M&A legal counsel, BonelliErede as antitrust advisors and
Deloitte as carve-out advisors. Additionally, De Brauw Blackstone
Westbroek N.V. continued to support GrandVision as legal
advisor.
Advisors to Vision Group: CapM Advisors acted as
financial advisor and ADVANT Nctm served as legal counsel. Deloitte
and Fineurop Soditic S.p.A. provided due diligence and transaction
support.
About
EssilorLuxotticaEssilorLuxottica is a global leader in the
design, manufacture and distribution of ophthalmic lenses, frames
and sunglasses. Formed in 2018, its mission is to help people
around the world to see more, be more and live life to its fullest
by addressing their evolving vision needs and personal style
aspirations. The Company brings together the complementary
expertise of two industry pioneers, one in advanced lens technology
and the other in the craftsmanship of iconic eyewear, to set new
industry standards for vision care and the consumer experience
around it. Influential eyewear brands including Ray-Ban and Oakley,
lens technology brands including Varilux and Transitions, and
world-class retail brands including Sunglass Hut, LensCrafters and
since 1st July (via a majority interest) - GrandVision are part of
the EssilorLuxottica family. In 2020, EssilorLuxottica had over
140,000 employees and consolidated revenues of Euro 14.4 billion.
The EssilorLuxottica share trades on the Euronext Paris market and
is included in the Euro Stoxx 50 and CAC 40 indices. Codes and
symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.
For more information, please visit www.essilorluxottica.com.
About
GrandVisionGrandVision, part of the
EssilorLuxottica group, is a global leader in optical retailing,
delivering high quality and affordable eye care to more and
more customers around the world. The high-quality eye care offered
by GrandVision includes a wide range of services provided by its
vision experts. Our products include prescription glasses including
frames and lenses, contact lenses and contact lens care products,
as well as sunglasses both plain and with prescription lenses.
These products are offered through leading optical retail banners
which operate in more than 40 countries across Europe, the
Americas, the Middle East and Asia. GrandVision serves its
customers in over 7,200 stores and with more than 39,000
employees, proving every day that in EYE CARE, WE CARE
MORE. Since March 2021, GrandVision is a participant of the
United Nations Global Compact and we adhere to our principle-based
approach to responsible business. For more information, please
visit www.grandvision.com
About Vision
GroupVision Group manages over 300 directly opaerated and
franchised stores across Italy through its national VisionOttica
banner. In addition, Vision Group is also the largest retail
network in the Italian optical market, with over 2,500 affiliated
eyecare professionals who operate at various levels of affiliation.
Vision Group has grown both organically and through acquisitions to
become the go-to optical destination for Italian families. Vision
Group’s goal is to improve the visual well-being of its customers
by focusing on their vision needs through superior service,
technological innovation and best-in-class optical stores offering
a personalized and professional experience. Since 2014, Vision
Group’s growth has been supported by Arcadia SGR, which invested to
accelerate the company’s expansion. For more information, please
visit www.vision-group.it
CONTACTS
EssilorLuxottica GrandVision
Giorgio Iannella - Head of Investor
Relations Annia
Ballesteros – Investor Relations Directore-mail:
ir@essilorluxottica.com e-mail:
annia.balesteros@grandvision.com
Marco Catalani - Head of Corporate
Communications Carola
Okhuijsen – Head of Corporate Communicationse-mail:
media@essilorluxottica.com e-mail:
carola.okhuijsen@grandvision.com
Vision Group –
Comin & Partners
Federico Fabretti –Partnere-mail:
federico.fabretti@cominandpartners.com
Federica Gramegna –Senior Consultante-mail:
federica.gramegna@cominandpartners.com
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