EssilorLuxottica : Update on the proposed acquisition of GrandVision
23 März 2021 - 06:17PM
EssilorLuxottica : Update on the proposed acquisition of
GrandVision
Update on the proposed acquisition of
GrandVision
Charenton-le-Pont, France (March 23,
2020 – 6:00 pm) – EssilorLuxottica confirms that the
European Commission has cleared the acquisition of GrandVision
after a long in-depth review largely impacted by consequences of
the COVID-19 pandemic.
The clearance is conditioned to the divestment
of some optical retail businesses in Belgium, the Netherlands and
Italy for an overall number of approximately 350 stores. In
particular:
- In Belgium, the GrandOptical chain and its 35 stores will be
sold but without the brand name. The purchaser will have a license
while rebranding these stores to its own choice of name.
- In Italy, the merged entity will divest a total of 174 stores,
which includes the whole of EssilorLuxottica's VistaSì chain
together with 72 stores from the “GrandVision by” chain. The
VistaSì
brand will be transferred and the “GrandVision by” stores will
either be rebranded
to VistaSì
or to the purchaser's own
brand. ·In
the Netherlands, 142 stores from the EyeWish chain will be sold,
together with the brand name. The merged entity will keep some
stores from this chain and will have to rebrand them under a new
name.
The outcome of the proposed transaction is still
depending on the sign off from the competition authorities in Chile
and Turkey, as well as the decisions regarding on-going
litigations.
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, 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 and LensCrafters
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.
CONTACTS
EssilorLuxottica Investor
Relations(Charenton-le-Pont) Tel: + 33 1 49 77 42
16(Milan) Tel: + 39 (02) 8633 4870E-mail:
ir@essilorluxottica.com |
EssilorLuxottica Corporate
Communications(Charenton-le-Pont) Tel: + 33 1 49 77 45
02(Milan) Tel: + 39 (02) 8633 4470E-mail:
media@essilorluxottica.com |
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