The four North Dakota stores will be Shopko Optical’s first in the state. The 14 Minnesota locations will increase Shopko Optical’s footprint to 29 in that state.
GREEN BAY, Wisconsin — Shopko Optical announced that it has acquired Midwest Vision Centers, which operates 18 eyecare locations in Minnesota and North Dakota. The transaction will expand Shopko Optical to 142 eyecare centers throughout the Upper Midwest, according to the company’s announcement.
The terms of the acquisition were not disclosed. Midwest Vision Centers is Shopko Optical’s seventh completed acquisition over the past six months. Shopko Optical now operates eyecare centers across 13 states. In April, Shopko Optical acquired Third Street Optical in Bemidji, Minn., as it expanded to approximately 125 eyecare locations.
“We are excited and grateful for the opportunity to welcome Midwest Vision Centers, their employees, and their patients to the Shopko Optical family,” Russ Steinhorst, Shopko Optical’s CEO, said in the announcement. “Our new patients will be pleased to receive the thorough and trusted eyecare they have come to expect along with an enhanced election of products from the doctors and opticians who will continue to serve these communities.”
Steinhorst added, “As we met with teammates and doctors at each of the 18 locations, it became apparent that Midwest Vision Centers shares the same vision, culture and commitment to personalized patient-centric care as Shopko Optical.
Dr. Myrel A. Neumann, owner at Midwest Vision Centers, noted that Shopko Optical’s demonstrated approach to personalized and comprehensive care makes them “a trusted pillar in the eyecare” community. “Shopko Optical has provided top quality health care in the upper Midwest for decades,” Neumann said. “We share hometown values, culture and a common approach of investing in the communities we serve.”
CapM Advisors served as financial advisor to Shopko Optical.
Shopko Optical is the trade name of Shoptikal LLC, an affiliate of the private investment firm Monarch Alternative Capital, which has offices in New York City and London. The company has provided eyecare services across the Midwest for more than 40 years, and now has a team that includes nearly 800 optometrists.
In its announcement, Shopko Optical said it takes great care to address practices’ needs and priorities while enabling doctors to provide the best care for their patients. In addition, Shopko Optical provides excellent administrative support, including managed vision care services and an in-house lab. Each store will have an enhanced frame assortment as well as the latest in lens technology with a comprehensive satisfaction guarantee.
The Shopko Optical Kids in Focus program will work with the local Lions Clubs in Minnesota and North Dakota to identify eligible children within the area to receive a comprehensive eye exam and pair of glasses at no charge.
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