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EssilorLuxottica announces interest in purchasing GrandVision
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EssilorLuxottica announced that it is in discussions to purchase a 76.72% ownership interest in GrandVision NV of HAL Holding NV.
The purchase price discussed among the parties is Euro 28.00 per share, according to EssilorLuxottica in a press release.
“The terms of the potential transaction, including with respect to price, will be subject to continued evaluation and discussion during the coming weeks and further review by the parties’ board of directors,” EssilorLuxottica said in the release.
GrandVision owns 7,000 optical retail stores in more than 40 countries. In addition to an online presence, its “stores operate under well-known local retail banners, which, in some cases, look back at a heritage of over 120 years,” according to GrandVision’s website.
EssilorLuxottica was formed in 2018, bringing together Essilor’s lens technology and Luxottica’s eye wear. According to the press release, in 2018, EssilorLuxottica had nearly 150,000 employees and pro forma consolidated revenues of Euro 16.2 billion.