EssilorLuxottica and GrandVision complete the transaction with Vision Group for the sale of stores in Italy
Charenton-le-Pont, France, Schiphol, The Netherlands and Milan, Italy (2 March 2022 - 8 am CET) - 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 completed the transaction 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. EssilorLuxottica, GrandVision and Vision Group confirm that European Commission has approved the transaction.
EssilorLuxottica 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 and be more 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 GrandVision are part of the EssilorLuxottica family. EssilorLuxottica has approximately 180,000 employees. In 2020, the Group 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 Vision Group
Vision Group manages over 300 directly operated 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
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